Metropolitan Life Insurance Co. NY cut its position in Hersha Hospitality Trust (NYSE:HT) by 0.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 32,079 shares of the real estate investment trust’s stock after selling 31 shares during the period. Metropolitan Life Insurance Co. NY owned about 0.08% of Hersha Hospitality Trust worth $603,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC acquired a new position in Hersha Hospitality Trust during the first quarter worth approximately $108,000. Municipal Employees Retirement System of Michigan acquired a new position in Hersha Hospitality Trust during the first quarter worth approximately $179,000. Mason Street Advisors LLC acquired a new position in Hersha Hospitality Trust during the first quarter worth approximately $184,000. KCG Holdings Inc. acquired a new position in Hersha Hospitality Trust during the first quarter worth approximately $200,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in Hersha Hospitality Trust during the first quarter worth approximately $231,000. 96.55% of the stock is currently owned by institutional investors.
Hersha Hospitality Trust (NYSE:HT) traded down 1.09% during mid-day trading on Friday, reaching $18.10. The company’s stock had a trading volume of 917,771 shares. The company has a market cap of $757.20 million, a PE ratio of 7.94 and a beta of 1.38. Hersha Hospitality Trust has a 12-month low of $16.80 and a 12-month high of $22.14. The firm’s 50 day moving average is $18.41 and its 200-day moving average is $18.99.
Hersha Hospitality Trust (NYSE:HT) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by $0.02. The business had revenue of $138 million for the quarter, compared to analyst estimates of $134.55 million. Hersha Hospitality Trust had a return on equity of 14.78% and a net margin of 22.77%. Hersha Hospitality Trust’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $0.89 EPS. Equities analysts anticipate that Hersha Hospitality Trust will post $2.23 earnings per share for the current fiscal year.
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A number of research firms recently commented on HT. Stifel Nicolaus reissued a “hold” rating and issued a $20.00 price target on shares of Hersha Hospitality Trust in a report on Wednesday, July 19th. ValuEngine cut Hersha Hospitality Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. JMP Securities cut Hersha Hospitality Trust from an “outperform” rating to a “market perform” rating and set a $23.00 price target on the stock. in a report on Monday, May 1st. They noted that the move was a valuation call. Brean Capital reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Hersha Hospitality Trust in a research note on Monday, May 1st. Finally, BidaskClub raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $20.00.
In other Hersha Hospitality Trust news, COO Neil H. Shah bought 1,400 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was bought at an average price of $18.00 per share, with a total value of $25,200.00. Following the completion of the purchase, the chief operating officer now directly owns 296,308 shares in the company, valued at $5,333,544. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.10% of the stock is owned by company insiders.
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.
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