Nomura Asset Management Co. Ltd. continued to hold its stake in shares of Hersha Hospitality Trust (NYSE:HT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,357 shares of the real estate investment trust’s stock at the end of the first quarter. Nomura Asset Management Co. Ltd. owned approximately 0.07% of Hersha Hospitality Trust worth $514,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Credit Agricole S A increased its stake in shares of Hersha Hospitality Trust by 12.7% in the fourth quarter. Credit Agricole S A now owns 19,284 shares of the real estate investment trust’s stock worth $415,000 after buying an additional 2,175 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Hersha Hospitality Trust during the fourth quarter worth about $890,000. Norges Bank purchased a new stake in shares of Hersha Hospitality Trust during the fourth quarter worth about $7,881,000. Teachers Advisors LLC increased its stake in shares of Hersha Hospitality Trust by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 599,929 shares of the real estate investment trust’s stock worth $12,898,000 after buying an additional 3,526 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Hersha Hospitality Trust during the first quarter worth about $319,000.
Hersha Hospitality Trust (NYSE:HT) opened at 18.73 on Wednesday. Hersha Hospitality Trust has a 1-year low of $16.80 and a 1-year high of $22.14. The stock has a market capitalization of $782.82 million, a PE ratio of 6.44 and a beta of 1.38. The firm has a 50-day moving average of $18.85 and a 200-day moving average of $19.33.
Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. Hersha Hospitality Trust had a net margin of 29.30% and a return on equity of 18.72%. The firm had revenue of $108 million during the quarter, compared to analyst estimates of $101.68 million. During the same period in the previous year, the business posted $0.28 earnings per share. Equities analysts expect that Hersha Hospitality Trust will post $1.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.12 annualized dividend and a yield of 5.98%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is 38.89%.
HT has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, March 21st. Stifel Nicolaus dropped their target price on shares of Hersha Hospitality Trust from $20.50 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, April 26th. JMP Securities cut shares of Hersha Hospitality Trust from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a research note on Monday, May 1st. They noted that the move was a valuation call. Brean Capital reiterated a “buy” rating and issued a $16.00 target price on shares of Hersha Hospitality Trust in a research note on Monday, May 1st. Finally, ValuEngine upgraded shares of Hersha Hospitality Trust from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 19th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $20.11.
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 December 31, 2016, the Company’s portfolio consisted of 43 limited and full service properties with a total of 6,344 rooms and interests in 12 limited and full service properties owned through joint venture investments with a total of 2,456 rooms.
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