Brokerages expect Hersha Hospitality Trust (NYSE:HT) to post $134.94 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Hersha Hospitality Trust’s earnings, with estimates ranging from $127.04 million to $150.52 million. Hersha Hospitality Trust posted sales of $129.59 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.1%. The firm is expected to announce its next quarterly earnings results on Wednesday, October 24th.
On average, analysts expect that Hersha Hospitality Trust will report full-year sales of $504.54 million for the current year, with estimates ranging from $494.22 million to $532.80 million. For the next fiscal year, analysts forecast that the firm will report sales of $540.05 million per share, with estimates ranging from $499.93 million to $591.65 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Hersha Hospitality Trust.
Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.12. Hersha Hospitality Trust had a negative net margin of 2.74% and a negative return on equity of 0.58%. The firm had revenue of $133.84 million for the quarter, compared to analyst estimates of $135.57 million.
Several analysts have issued reports on the stock. Robert W. Baird lowered shares of Hersha Hospitality Trust from an “outperform” rating to a “neutral” rating in a research report on Monday, August 20th. Jefferies Financial Group assumed coverage on shares of Hersha Hospitality Trust in a research report on Thursday, May 31st. They set a “hold” rating and a $22.00 price target on the stock. Zacks Investment Research raised shares of Hersha Hospitality Trust from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, June 27th. DA Davidson upped their price objective on shares of Hersha Hospitality Trust from $21.00 to $24.00 and gave the company a “buy” rating in a report on Friday, June 22nd. Finally, Stifel Nicolaus upped their price objective on shares of Hersha Hospitality Trust from $20.50 to $22.00 and gave the company a “hold” rating in a report on Tuesday, June 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Hersha Hospitality Trust has an average rating of “Hold” and a consensus target price of $21.11.
NYSE HT opened at $23.08 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.56 and a current ratio of 0.56. Hersha Hospitality Trust has a 1 year low of $16.60 and a 1 year high of $24.16. The firm has a market cap of $918.74 million, a price-to-earnings ratio of 10.74, a PEG ratio of 2.15 and a beta of 1.30.
In related news, Director Thomas J. Hutchison III sold 10,000 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $21.94, for a total transaction of $219,400.00. Following the completion of the sale, the director now owns 85,510 shares of the company’s stock, valued at $1,876,089.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of HT. SG Americas Securities LLC bought a new stake in Hersha Hospitality Trust during the first quarter worth about $113,000. Tower Research Capital LLC TRC bought a new stake in Hersha Hospitality Trust during the second quarter worth about $151,000. Commonwealth Bank of Australia lifted its holdings in shares of Hersha Hospitality Trust by 72.2% in the second quarter. Commonwealth Bank of Australia now owns 7,920 shares of the real estate investment trust’s stock worth $169,000 after acquiring an additional 3,320 shares during the last quarter. Pensionfund Sabic bought a new position in shares of Hersha Hospitality Trust in the second quarter worth about $172,000. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Hersha Hospitality Trust in the second quarter worth about $184,000. 92.42% of the stock is owned by institutional investors and hedge funds.
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 7,653 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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