Insider Buying: Hersha Hospitality Trust (HT) COO Acquires $49,995.33 in Stock

Hersha Hospitality Trust (NYSE:HT) COO Neil H. Shah bought 2,823 shares of the stock in a transaction dated Thursday, October 26th. The shares were purchased at an average price of $17.71 per share, with a total value of $49,995.33. Following the completion of the transaction, the chief operating officer now directly owns 305,033 shares in the company, valued at approximately $5,402,134.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.12 annualized dividend and a dividend yield of 6.33%. Hersha Hospitality Trust’s dividend payout ratio is presently 52.09%.

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Hedge funds and other institutional investors have recently modified their holdings of the business. Chicago Equity Partners LLC increased its holdings in Hersha Hospitality Trust by 404.5% during the 2nd quarter. Chicago Equity Partners LLC now owns 397,897 shares of the real estate investment trust’s stock worth $7,365,000 after purchasing an additional 319,022 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Hersha Hospitality Trust by 2.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 462,499 shares of the real estate investment trust’s stock worth $8,691,000 after purchasing an additional 12,450 shares during the period. BlackRock Inc. increased its holdings in Hersha Hospitality Trust by 0.3% during the 2nd quarter. BlackRock Inc. now owns 5,971,382 shares of the real estate investment trust’s stock worth $110,531,000 after purchasing an additional 16,158 shares during the period. Legal & General Group Plc increased its holdings in Hersha Hospitality Trust by 93.0% during the 1st quarter. Legal & General Group Plc now owns 159,835 shares of the real estate investment trust’s stock worth $3,002,000 after purchasing an additional 77,030 shares during the period. Finally, Brookfield Asset Management Inc. increased its holdings in Hersha Hospitality Trust by 11.9% during the 2nd quarter. Brookfield Asset Management Inc. now owns 3,371,560 shares of the real estate investment trust’s stock worth $62,408,000 after purchasing an additional 357,835 shares during the period. Institutional investors own 98.01% of the company’s stock.

A number of research analysts have recently commented on HT shares. FBR & Co set a $20.00 target price on Hersha Hospitality Trust and gave the company a “buy” rating in a research report on Monday, August 28th. DA Davidson started coverage on Hersha Hospitality Trust in a research report on Friday, September 29th. They set a “buy” rating and a $21.00 target price for the company. Robert W. Baird restated a “buy” rating and set a $20.00 price target on shares of Hersha Hospitality Trust in a report on Friday, September 8th. Zacks Investment Research upgraded Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Stifel Nicolaus restated a “hold” rating and set a $19.00 price target on shares of Hersha Hospitality Trust in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $19.60.

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.

Insider Buying and Selling by Quarter for Hersha Hospitality Trust (NYSE:HT)

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