Shares of Hersha Hospitality Trust (NYSE:HT) traded up 11.3% during trading on Wednesday . The stock traded as high as $6.05 and last traded at $5.89, 696,349 shares changed hands during mid-day trading. A decline of 18% from the average session volume of 849,132 shares. The stock had previously closed at $5.29.
Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. ValuEngine upgraded shares of Hersha Hospitality Trust from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 9th. Stifel Nicolaus reduced their price target on shares of Hersha Hospitality Trust from $14.00 to $4.50 and set a “hold” rating on the stock in a research note on Tuesday, March 17th. DA Davidson downgraded shares of Hersha Hospitality Trust from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $8.00 to $7.00 in a research note on Tuesday, March 10th. Finally, B. Riley reduced their price target on shares of Hersha Hospitality Trust from $5.50 to $4.50 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Six equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Sell” and a consensus target price of $7.88.
The firm’s 50-day moving average is $4.79 and its 200 day moving average is $9.90. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $204.56 million, a price-to-earnings ratio of -4.52 and a beta of 2.27.
In other news, Chairman Hasu P. Shah purchased 10,578 shares of the stock in a transaction on Tuesday, April 7th. The stock was purchased at an average price of $4.75 per share, for a total transaction of $50,245.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Neil H. Shah purchased 10,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $3.84 per share, with a total value of $38,400.00. Following the acquisition, the chief operating officer now owns 493,511 shares in the company, valued at approximately $1,895,082.24. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 178,427 shares of company stock worth $1,186,513. 12.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in HT. Matarin Capital Management LLC bought a new position in Hersha Hospitality Trust during the 1st quarter worth approximately $1,892,000. Norges Bank bought a new position in Hersha Hospitality Trust during the 4th quarter worth approximately $4,512,000. 1060 Capital LLC bought a new stake in shares of Hersha Hospitality Trust in the 1st quarter valued at $1,014,000. Amundi Pioneer Asset Management Inc. increased its stake in shares of Hersha Hospitality Trust by 407.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 308,332 shares of the real estate investment trust’s stock valued at $5,285,000 after acquiring an additional 247,542 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Hersha Hospitality Trust by 792.6% in the 1st quarter. KBC Group NV now owns 230,720 shares of the real estate investment trust’s stock valued at $826,000 after acquiring an additional 204,871 shares in the last quarter. Hedge funds and other institutional investors own 82.03% of the company’s stock.
About Hersha Hospitality Trust (NYSE:HT)
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale, luxury and lifestyle hotels in urban gateway markets and coastal destinations. The Company's 48 hotels totaling 7,644 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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