Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Hersha Hospitality Trust (NYSE:HT) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,178 shares of the real estate investment trust’s stock after selling 5,868 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.15% of Hersha Hospitality Trust worth $624,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Diligent Investors LLC raised its position in shares of Hersha Hospitality Trust by 20.0% during the 1st quarter. Diligent Investors LLC now owns 15,000 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 2,500 shares during the period. Wells Fargo & Company MN raised its position in shares of Hersha Hospitality Trust by 1.4% during the 4th quarter. Wells Fargo & Company MN now owns 216,845 shares of the real estate investment trust’s stock valued at $1,711,000 after purchasing an additional 3,096 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Hersha Hospitality Trust by 16.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 28,500 shares of the real estate investment trust’s stock valued at $225,000 after purchasing an additional 4,000 shares during the period. IndexIQ Advisors LLC grew its stake in Hersha Hospitality Trust by 8.9% during the fourth quarter. IndexIQ Advisors LLC now owns 71,740 shares of the real estate investment trust’s stock valued at $566,000 after acquiring an additional 5,872 shares in the last quarter. Finally, Foundry Partners LLC grew its stake in Hersha Hospitality Trust by 4.4% during the fourth quarter. Foundry Partners LLC now owns 196,450 shares of the real estate investment trust’s stock valued at $1,550,000 after acquiring an additional 8,350 shares in the last quarter. Hedge funds and other institutional investors own 69.18% of the company’s stock.
In related news, Director Michael A. Leven sold 4,200 shares of Hersha Hospitality Trust stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $24.35, for a total transaction of $102,270.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Leven sold 7,650 shares of Hersha Hospitality Trust stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $24.07, for a total transaction of $184,135.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,850 shares of company stock valued at $514,006. 12.90% of the stock is owned by corporate insiders.
Several research firms recently weighed in on HT. Zacks Investment Research raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $8.00 target price (up from $7.00) on shares of Hersha Hospitality Trust in a research note on Thursday, February 25th. Robert W. Baird reaffirmed a “hold” rating and set a $10.00 target price on shares of Hersha Hospitality Trust in a research note on Friday, March 19th. Barclays raised their target price on shares of Hersha Hospitality Trust from $6.00 to $10.00 and gave the company an “underweight” rating in a research note on Tuesday, May 4th. Finally, BMO Capital Markets reaffirmed a “sell” rating and set a $9.00 target price on shares of Hersha Hospitality Trust in a research note on Thursday, April 29th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $8.31.
Shares of NYSE:HT opened at $10.62 on Thursday. Hersha Hospitality Trust has a 52 week low of $4.54 and a 52 week high of $13.05. The stock has a market capitalization of $415.58 million, a P/E ratio of -2.64 and a beta of 2.79. The firm has a fifty day simple moving average of $10.86 and a two-hundred day simple moving average of $9.26. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.15.
Hersha Hospitality Trust (NYSE:HT) last issued its quarterly earnings data on Wednesday, April 28th. The real estate investment trust reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.69. Hersha Hospitality Trust had a negative net margin of 51.54% and a negative return on equity of 17.94%. On average, analysts expect that Hersha Hospitality Trust will post -1.7 earnings per share for the current year.
Hersha Hospitality Trust Company Profile
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale and lifestyle hotels in urban gateway markets and resort destinations. The Company's 49 hotels totaling 7,774 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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