StockNews.com Begins Coverage on Hersha Hospitality Trust (NYSE:HT)

StockNews.com assumed coverage on shares of Hersha Hospitality Trust (NYSE:HT – Get Rating) in a report issued on Thursday morning. The firm issued a hold rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the company. Barclays lowered their price objective on Hersha Hospitality Trust from $10.00 to $9.00 and set an underweight rating on the stock in a research report on Tuesday, January 10th. B. Riley Financial restated a neutral rating on shares of Hersha Hospitality Trust in a research report on Saturday, February 25th. Finally, B. Riley restated a neutral rating on shares of Hersha Hospitality Trust in a research report on Friday, February 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $11.64.

Hersha Hospitality Trust Stock Performance

HT opened at $6.05 on Thursday. The stock has a market cap of $240.43 million, a PE ratio of 2.08 and a beta of 2.02. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.49. Hersha Hospitality Trust has a 1 year low of $6.03 and a 1 year high of $12.15. The stock’s 50 day simple moving average is $8.50 and its 200-day simple moving average is $8.84.

Hersha Hospitality Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Thursday, March 30th. Hersha Hospitality Trust’s dividend payout ratio (DPR) is 6.87%.

Insider Buying and Selling at Hersha Hospitality Trust

In related news, Director Thomas J. Hutchison III purchased 5,000 shares of the stock in a transaction on Thursday, February 23rd. The shares were purchased at an average cost of $8.56 per share, for a total transaction of $42,800.00. Following the completion of the transaction, the director now directly owns 151,319 shares of the company’s stock, valued at approximately $1,295,290.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On Hersha Hospitality Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new position in Hersha Hospitality Trust in the second quarter worth $30,000. Allspring Global Investments Holdings LLC boosted its stake in Hersha Hospitality Trust by 710.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,034 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 3,536 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in Hersha Hospitality Trust in the second quarter worth $35,000. Teachers Retirement System of The State of Kentucky acquired a new position in Hersha Hospitality Trust in the third quarter worth $36,000. Finally, Lazard Asset Management LLC acquired a new position in Hersha Hospitality Trust in the fourth quarter worth $43,000. Institutional investors and hedge funds own 65.29% of the company’s stock.

About Hersha Hospitality Trust

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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.