Brokerages expect Hersha Hospitality Trust (NYSE:HT) to post earnings per share of $0.43 for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Hersha Hospitality Trust’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.40. Hersha Hospitality Trust posted earnings per share of $0.52 during the same quarter last year, which would suggest a negative year-over-year growth rate of 17.3%. The business is scheduled to report its next earnings results after the market closes on Wednesday, February 21st.
According to Zacks, analysts expect that Hersha Hospitality Trust will report full-year earnings of $2.11 per share for the current financial year, with EPS estimates ranging from $2.09 to $2.14. For the next year, analysts anticipate that the company will report earnings of $2.25 per share, with EPS estimates ranging from $2.06 to $2.39. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Hersha Hospitality Trust.
Several brokerages have recently issued reports on HT. ValuEngine cut shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Barclays downgraded shares of Hersha Hospitality Trust from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $19.00 to $17.00 in a report on Wednesday, December 13th. B. Riley reiterated a “buy” rating on shares of Hersha Hospitality Trust in a report on Wednesday, November 1st. Finally, FBR & Co reiterated a “buy” rating and set a $20.00 price target on shares of Hersha Hospitality Trust in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Hersha Hospitality Trust presently has an average rating of “Hold” and an average target price of $19.40.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, January 5th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.12 annualized dividend and a yield of 6.43%. Hersha Hospitality Trust’s payout ratio is 52.09%.
Hersha Hospitality Trust declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, Chairman Hasu P. Shah sold 14,500 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $17.48, for a total transaction of $253,460.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of HT. Brookfield Asset Management Inc. grew its stake in Hersha Hospitality Trust by 11.9% in 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 acquiring an additional 357,835 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new position in Hersha Hospitality Trust in the 2nd quarter worth about $3,720,000. State Street Corp grew its stake in Hersha Hospitality Trust by 9.8% in the 2nd quarter. State Street Corp now owns 1,820,283 shares of the real estate investment trust’s stock worth $33,697,000 after acquiring an additional 162,545 shares in the last quarter. Bank of Montreal Can grew its stake in Hersha Hospitality Trust by 241.9% in the 4th quarter. Bank of Montreal Can now owns 217,607 shares of the real estate investment trust’s stock worth $3,786,000 after acquiring an additional 153,963 shares in the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in Hersha Hospitality Trust in the 3rd quarter worth about $2,793,000. Institutional investors and hedge funds own 98.48% of the company’s stock.
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Hersha Hospitality Trust Company Profile
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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