In yesterday’s Wall Street session, Hersha Hospitality Trust (NYSE:HT) shares traded at $9.83, up 0.20% from the previous session.
8 analysts cover Hersha Hospitality Trust (NYSE:HT), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $9.00, we find $10.00. Given the previous closing price of $9.81, this indicates a potential upside of 1.94 percent. HT stock price is now 53.90% away from the 50-day moving average and 34.55% away from the 200-day moving average. The market capitalization of the company currently stands at $394.28M.
The stock has received a hold rating from 7 analysts and a buy rating from 1. Brokers who have rated the stock have averaged $9.86 as their price target over the next twelve months.
With the price target enhanced from $8 to $10, Barclays Upgraded its rating from Underweight to Equal Weight for Hersha Hospitality Trust (NYSE: HT).
In other news, Hutchison Thomas J III, Director bought 5,000 shares of the company’s stock on Feb 23. The stock was bought for $42,800 at an average price of $8.56. Upon completion of the transaction, the Director now directly owns 151,319 shares in the company, valued at $1.49 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 30, Chief Accounting Officer Gillespie Michael R sold 10,000 shares of the business’s stock. A total of $85,000 was realized by selling the stock at an average price of $8.50. Insiders disposed of 39,887 shares of company stock worth roughly $0.39 million over the past 1 year. A total of 20.73% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HT stock. A new stake in Hersha Hospitality Trust shares was purchased by ROCK POINT ADVISORS, LLC during the first quarter worth $4,878,000. FULLER & THALER ASSET MANAGEMENT, INC. invested $3,530,000 in shares of HT during the first quarter. In the first quarter, THRIVENT FINANCIAL FOR LUTHERANS acquired a new stake in Hersha Hospitality Trust valued at approximately $1,749,000. HAZELVIEW SECURITIES INC. acquired a new stake in HT for approximately $386,000. NEBULA RESEARCH & DEVELOPMENT LLC purchased a new stake in HT valued at around $237,000 in the second quarter. In total, there are 223 active investors with 67.90% ownership of the company’s stock.
During the past 12 months, Hersha Hospitality Trust has had a low of $5.64 and a high of $9.97. According to the stock market information, the enterprise value for the company is $853.70M, which is based on a 3.16 price-to-earnings ratio, a 0.11 price-to-earnings-growth ratio, and a beta of 1.87. The fifty day moving average price for HT is $6.46 and a two-hundred day moving average price translates $7.40 for the stock.
The latest earnings results from Hersha Hospitality Trust (NYSE: HT) was released for Jun, 2023. According to the REIT – Hotel & Motel Company, earnings per share came in at $0.04, beating analysts’ expectations of $0 by 0.04. This compares to $0.06 EPS in the same period last year. The net profit margin was 34.60% and return on equity was 19.20% for HT. The company reported revenue of $97.81 million for the quarter, compared to $123.29 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -20.66 percent. For the current quarter, analysts expect HT to generate $91M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/17/2023. Investors who held shares on 06/30/2023 were paid a $0.05 dividend. On an annualized basis, this represents a $0.20 dividend and a 2.03% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend. In terms of dividend payout ratio, HT is presently at 3.10%.
Hersha Hospitality Trust(HT) Company Profile
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates luxury and lifestyle hotels in coastal gateway and resort markets. The Company’s 25 hotels totaling 3,811 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida, and California. The Company’s common shares are traded on The New York Stock Exchange under the ticker HT.
