Analysts forecast that Hersha Hospitality Trust (NYSE:HT) will report $0.58 earnings per share (EPS) for the current quarter, Zacks reports. Nine analysts have issued estimates for Hersha Hospitality Trust’s earnings, with the lowest EPS estimate coming in at $0.56 and the highest estimate coming in at $0.60. Hersha Hospitality Trust posted earnings of $0.48 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 20.8%. The business is scheduled to issue its next quarterly earnings report on Wednesday, February 20th.
On average, analysts expect that Hersha Hospitality Trust will report full year earnings of $2.18 per share for the current year, with EPS estimates ranging from $2.16 to $2.20. For the next fiscal year, analysts forecast that the firm will post earnings of $2.33 per share, with EPS estimates ranging from $2.18 to $2.61. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Hersha Hospitality Trust.
Hersha Hospitality Trust (NYSE:HT) last released its earnings results on Tuesday, October 23rd. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $127.88 million during the quarter, compared to analysts’ expectations of $134.82 million.
HT has been the subject of a number of recent analyst reports. Robert W. Baird set a $20.00 price target on Hersha Hospitality Trust and gave the company a “hold” rating in a research report on Thursday, October 25th. Zacks Investment Research upgraded Hersha Hospitality Trust from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, August 21st. B. Riley set a $19.00 price target on Hersha Hospitality Trust and gave the company a “hold” rating in a research report on Thursday, October 25th. Barclays increased their price target on Hersha Hospitality Trust from $18.00 to $20.00 and gave the company an “underweight” rating in a research report on Monday, July 30th. Finally, Stifel Nicolaus increased their price target on Hersha Hospitality Trust from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $21.63.
Shares of NYSE:HT traded up $0.15 during midday trading on Friday, reaching $18.13. The company had a trading volume of 496,067 shares, compared to its average volume of 458,164. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.09. Hersha Hospitality Trust has a 1-year low of $16.60 and a 1-year high of $24.16. The firm has a market capitalization of $699.38 million, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.52.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, September 28th. This represents a $1.12 dividend on an annualized basis and a yield of 6.18%. Hersha Hospitality Trust’s payout ratio is presently 51.85%.
In other Hersha Hospitality Trust news, Director Thomas J. Hutchison III sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $22.69, for a total transaction of $113,450.00. Following the completion of the sale, the director now directly owns 85,510 shares in the company, valued at approximately $1,940,221.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Hasu P. Shah acquired 1,450 shares of the firm’s stock in a transaction on Monday, October 29th. The shares were acquired at an average price of $17.25 per share, with a total value of $25,012.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 13,500 shares of company stock valued at $233,860 over the last 90 days. Corporate insiders own 10.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in HT. Tower Research Capital LLC TRC acquired a new stake in shares of Hersha Hospitality Trust during the 2nd quarter valued at about $151,000. Commonwealth Bank of Australia increased its position in Hersha Hospitality Trust by 72.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 7,920 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 3,320 shares during the period. Piedmont Investment Advisors LLC bought a new position in Hersha Hospitality Trust in the 2nd quarter worth approximately $184,000. 6 Meridian bought a new position in Hersha Hospitality Trust in the 2nd quarter worth approximately $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Hersha Hospitality Trust by 144.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,799 shares of the real estate investment trust’s stock worth $232,000 after buying an additional 6,375 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.
About Hersha Hospitality Trust
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets and coastal destinations. The Company's 49 hotels totaling 7,666 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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