Hersha Hospitality Trust (NYSE:HT) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Hersha Hospitality Trust (NYSE:HT) from a buy rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Hersha Hospitality Trust is an entrepreneurial, high-growth real estate development and management company focussed on the hospitality industry. Hersha currently owns, operates, and develops a portfolio of hotels and assisted living facilities in the mid-Atlantic region of the United States. (PRESS RELEASE) “

Other equities research analysts have also issued research reports about the company. BMO Capital Markets raised Hersha Hospitality Trust from an underperform rating to a market perform rating and set a $10.00 price target on the stock in a research report on Friday, January 7th. Raymond James raised Hersha Hospitality Trust from an underperform rating to a market perform rating in a research report on Monday, January 10th. Finally, Wells Fargo & Company raised Hersha Hospitality Trust from an equal weight rating to an overweight rating in a research report on Monday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $10.14.

Shares of NYSE:HT opened at $9.52 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.32. The business has a fifty day moving average of $9.61 and a two-hundred day moving average of $9.52. Hersha Hospitality Trust has a 52-week low of $7.51 and a 52-week high of $13.05.

Hersha Hospitality Trust (NYSE:HT) last released its quarterly earnings results on Tuesday, October 26th. The real estate investment trust reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.55). Hersha Hospitality Trust had a negative return on equity of 10.42% and a negative net margin of 30.74%. During the same period in the previous year, the firm earned ($0.46) EPS. On average, analysts expect that Hersha Hospitality Trust will post -0.43 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Albar Capital Ltd purchased a new position in Hersha Hospitality Trust during the 2nd quarter worth approximately $18,830,000. Kylin Management LLC purchased a new position in Hersha Hospitality Trust during the 2nd quarter worth approximately $18,830,000. State Street Corp grew its stake in Hersha Hospitality Trust by 1.0% during the 2nd quarter. State Street Corp now owns 1,692,720 shares of the real estate investment trust’s stock worth $18,214,000 after buying an additional 17,028 shares during the last quarter. Balyasny Asset Management LLC purchased a new position in shares of Hersha Hospitality Trust in the 3rd quarter valued at approximately $6,188,000. Finally, Geode Capital Management LLC grew its stake in shares of Hersha Hospitality Trust by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 662,744 shares of the real estate investment trust’s stock valued at $6,183,000 after purchasing an additional 18,058 shares during the last quarter. Hedge funds and other institutional investors own 63.81% of the company’s stock.

About Hersha Hospitality Trust

Hersha Hospitality Trust is a self-advised real estate investment trust in the hospitality sector, which owns and operates hotels in urban gateway markets. Its hotel properties are located in in New York, Boston, Philadelphia, Washington, the District of Columbia, Miami, and select markets on the West Coast.

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