Hersha Hospitality Trust (HT) Position Reduced by Cornerstone Capital Management Holdings LLC.

Cornerstone Capital Management Holdings LLC. lessened its stake in Hersha Hospitality Trust (NYSE:HT) by 61.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,000 shares of the real estate investment trust’s stock after selling 33,200 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.05% of Hersha Hospitality Trust worth $391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HT. Municipal Employees Retirement System of Michigan increased its holdings in Hersha Hospitality Trust by 49.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 14,270 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 4,740 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Hersha Hospitality Trust by 9.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 508,051 shares of the real estate investment trust’s stock worth $9,405,000 after buying an additional 45,552 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Hersha Hospitality Trust by 1.2% during the second quarter. Legal & General Group Plc now owns 161,792 shares of the real estate investment trust’s stock worth $2,995,000 after buying an additional 1,957 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Hersha Hospitality Trust by 23.1% during the second quarter. BNP Paribas Arbitrage SA now owns 27,779 shares of the real estate investment trust’s stock worth $562,000 after buying an additional 5,205 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Hersha Hospitality Trust during the second quarter worth $750,000. 98.59% of the stock is owned by institutional investors.

Hersha Hospitality Trust (HT) opened at $17.47 on Thursday. Hersha Hospitality Trust has a 1 year low of $17.15 and a 1 year high of $21.67. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $726.09, a PE ratio of 8.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.34.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, January 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.12 annualized dividend and a dividend yield of 6.41%. Hersha Hospitality Trust’s dividend payout ratio is presently 52.09%.

In other news, insider Neil H. Shah bought 7,044 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were purchased at an average cost of $17.44 per share, for a total transaction of $122,847.36. Following the completion of the purchase, the insider now owns 310,692 shares of the company’s stock, valued at $5,418,468.48. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Neil H. Shah bought 2,823 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The shares were purchased at an average price of $17.71 per share, for a total transaction of $49,995.33. Following the completion of the purchase, the chief operating officer now directly owns 305,033 shares of the company’s stock, valued at approximately $5,402,134.43. The disclosure for this purchase can be found here. Insiders have bought 19,815 shares of company stock worth $346,990 in the last three months. Corporate insiders own 8.10% of the company’s stock.

A number of equities research analysts have recently issued reports on HT shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $19.00 target price on shares of Hersha Hospitality Trust in a report on Thursday, September 7th. Robert W. Baird reaffirmed a “buy” rating and set a $20.00 target price on shares of Hersha Hospitality Trust in a report on Friday, September 8th. DA Davidson started coverage on shares of Hersha Hospitality Trust in a report on Friday, September 29th. They set a “buy” rating and a $21.00 target price for the company. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Thursday, October 19th. Finally, Wells Fargo & Co dropped their target price on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.40.

ILLEGAL ACTIVITY WARNING: “Hersha Hospitality Trust (HT) Position Reduced by Cornerstone Capital Management Holdings LLC.” was first posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at https://transcriptdaily.com/2017/12/28/hersha-hospitality-trust-ht-position-reduced-by-cornerstone-capital-management-holdings-llc-3.html.

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.

Want to see what other hedge funds are holding HT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hersha Hospitality Trust (NYSE:HT).

Institutional Ownership by Quarter for Hersha Hospitality Trust (NYSE:HT)

Receive News & Ratings for Hersha Hospitality Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hersha Hospitality Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply