Zacks Investment Research Downgrades Hersha Hospitality Trust (HT) to Strong Sell

Hersha Hospitality Trust (NYSE:HT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday.

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) “

A number of other equities analysts also recently commented on the stock. Robert W. Baird reiterated a “buy” rating and set a $20.00 target price on shares of Hersha Hospitality Trust in a research note on Thursday, October 12th. Stifel Nicolaus reiterated a “hold” rating and set a $19.00 target price on shares of Hersha Hospitality Trust in a research note on Thursday, October 12th. DA Davidson assumed coverage on shares of Hersha Hospitality Trust in a research note on Friday, September 29th. They set a “buy” rating and a $21.00 target price for the company. BidaskClub upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, FBR & Co set a $20.00 target price on shares of Hersha Hospitality Trust and gave the stock a “buy” rating in a research note on Monday, August 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $19.60.

Hersha Hospitality Trust (HT) opened at $17.56 on Monday. The company has a market cap of $730.67, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 2.13 and a beta of 1.35. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.67 and a quick ratio of 0.67. Hersha Hospitality Trust has a 12 month low of $17.15 and a 12 month high of $22.14.

TRADEMARK VIOLATION NOTICE: “Zacks Investment Research Downgrades Hersha Hospitality Trust (HT) to Strong Sell” was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.chaffeybreeze.com/2017/11/22/zacks-investment-research-downgrades-hersha-hospitality-trust-ht-to-strong-sell.html.

In other Hersha Hospitality Trust news, COO Neil H. Shah bought 1,667 shares of Hersha Hospitality Trust stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average cost of $17.86 per share, with a total value of $29,772.62. Following the completion of the acquisition, the chief operating officer now owns 297,418 shares of the company’s stock, valued at $5,311,885.48. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Neil H. Shah bought 1,500 shares of Hersha Hospitality Trust stock in a transaction dated Friday, September 8th. The stock was acquired at an average cost of $17.91 per share, with a total value of $26,865.00. Following the completion of the acquisition, the insider now directly owns 302,210 shares of the company’s stock, valued at approximately $5,412,581.10. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 28,494 shares of company stock valued at $502,496. 8.10% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Chicago Equity Partners LLC raised its holdings in shares of Hersha Hospitality Trust by 404.5% in the second quarter. Chicago Equity Partners LLC now owns 397,897 shares of the real estate investment trust’s stock valued at $7,365,000 after buying an additional 319,022 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Hersha Hospitality Trust by 2.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 462,499 shares of the real estate investment trust’s stock valued at $8,691,000 after buying an additional 12,450 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Hersha Hospitality Trust by 0.3% in the second quarter. BlackRock Inc. now owns 5,971,382 shares of the real estate investment trust’s stock valued at $110,531,000 after buying an additional 16,158 shares during the last quarter. Brookfield Asset Management Inc. raised its holdings in shares of Hersha Hospitality Trust by 11.9% in the second quarter. Brookfield Asset Management Inc. now owns 3,371,560 shares of the real estate investment trust’s stock valued at $62,408,000 after buying an additional 357,835 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Hersha Hospitality Trust in the third quarter valued at about $258,000. 99.86% of the stock is owned by institutional investors and hedge funds.

About Hersha Hospitality Trust

Hersha Hospitality Trust is a self-advised real estate investment trust (REIT). The Company invests primarily in institutional grade hotels in urban gateway markets, including New York, Washington, District of Columbia, Boston, Philadelphia, South Florida and select markets on the West Coast. As of July 20, 2017, the Company’s hotels included 51 hotels totaling 7,804 rooms located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

Analyst Recommendations for Hersha Hospitality Trust (NYSE:HT)

Receive News & Ratings for Hersha Hospitality Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hersha Hospitality Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply