Todays Report: The California Public Employees Retirement System reaches $1,831,000 position of Hersha Hospitality Trust (HT)

The California Public Employees Retirement System reaches $1,831,000 position  of Hersha Hospitality Trust (HT)

California Public Employees Retirement System boosted its stake in shares of Hersha Hospitality Trust (NYSE:HT) by 5.4% during the second quarter, Holdings Channel reports. The fund owned 106,743 shares of the real estate investment trust’s stock after buying an additional 5,475 shares during the period. California Public Employees Retirement System owned about 0.25% of Hersha Hospitality Trust worth $1,831,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mizuho Trust & Banking Co. Ltd. increased its position in shares of Hersha Hospitality Trust by 0.5% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 8,548 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 41 shares during the last quarter. BB&T Securities LLC boosted its stake in Hersha Hospitality Trust by 48.4% in the first quarter. BB&T Securities LLC now owns 17,555 shares of the real estate investment trust’s stock valued at $374,000 after buying an additional 5,724 shares during the period. Quantbot Technologies LP bought a new stake in Hersha Hospitality Trust during the second quarter valued at $355,000. Prudential Financial Inc. bought a new stake in Hersha Hospitality Trust during the first quarter valued at $642,000. Finally, BlackRock Inc. boosted its stake in Hersha Hospitality Trust by 3.6% in the first quarter. BlackRock Inc. now owns 37,692 shares of the real estate investment trust’s stock valued at $805,000 after buying an additional 1,320 shares during the period.

Hersha Hospitality Trust (NYSE:HT) traded down 1.63% during trading on Friday, hitting $18.07. 393,475 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $18.77 and a 200 day moving average price of $18.95. Hersha Hospitality Trust has a 52-week low of $15.36 and a 52-week high of $25.63. The company has a market cap of $766.66 million, a price-to-earnings ratio of 7.54 and a beta of 1.52.

Hersha Hospitality Trust (NYSE:HT) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.03. Hersha Hospitality Trust had a net margin of 24.39% and a return on equity of 15.88%. The firm earned $127.70 million during the quarter, compared to analyst estimates of $130.11 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. Hersha Hospitality Trust’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts predict that Hersha Hospitality Trust will post $2.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.20%. Hersha Hospitality Trust’s dividend payout ratio is 45.16%.

Several analysts have recently weighed in on HT shares. Barclays PLC lowered their price objective on shares of Hersha Hospitality Trust from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Friday, July 29th. Deutsche Bank AG restated a “hold” rating and set a $21.00 price objective on shares of Hersha Hospitality Trust in a research report on Sunday, June 26th. Zacks Investment Research upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Canaccord Genuity restated a “hold” rating and set a $20.00 price objective on shares of Hersha Hospitality Trust in a research report on Friday, July 29th. Finally, FBR & Co lowered their price objective on shares of Hersha Hospitality Trust from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.00.

In other Hersha Hospitality Trust news, Chairman Hasu P. Shah acquired 3,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was acquired at an average price of $19.00 per share, for a total transaction of $57,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay H. Shah acquired 4,700 shares of the stock in a transaction on Monday, September 12th. The shares were acquired at an average price of $18.40 per share, with a total value of $86,480.00. Following the transaction, the chief executive officer now directly owns 275,730 shares of the company’s stock, valued at $5,073,432. The disclosure for this purchase can be found here. Corporate insiders own 7.10% of the company’s stock.

Hersha Hospitality Trust Company Profile

Hersha Hospitality Trust is a real estate investment trust. The Company operates through investment in hotel properties segment. It invests in institutional grade hotels in urban gateway markets, including New York, Washington District of Columbia (DC), Boston, Philadelphia, South Florida and select markets on the West Coast.

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