Hersha Hospitality Trust (HT) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on May 19, 2016.
Many Wall Street Analysts have commented on Hersha Hospitality Trust. Hersha Hospitality Trust was Resumed by Stifel to “Hold” on Mar 29, 2016. Shares were Reiterated by Barclays on Feb 22, 2016 to “Equal Weight” and Lowered the Price Target to $ 22 from a previous price target of $27 .Shares were Reiterated by RBC Capital Mkts on Feb 22, 2016 to “Sector Perform” and Lowered the Price Target to $ 24 from a previous price target of $26 .
On the company’s financial health, Hersha Hospitality Trust reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.34. The company had revenue of $106.87 million for the quarter, compared to analysts expectations of $105.59 million. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.
Hersha Hospitality Trust closed down -0.27 points or -1.43% at $18.66 with 3,32,907 shares getting traded on Monday. Post opening the session at $18.95, the shares hit an intraday low of $18.64 and an intraday high of $19.15 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Feb 25, 2016, Donald J Landry (director) purchased 1,000 shares at $20.37 per share price. According to the SEC, on Feb 23, 2016, Neil H Shah (COO) purchased 5,000 shares at $19.97 per share price. On Feb 23, 2016, Michael R Gillespie (Chief Accounting Officer) purchased 500 shares at $20.59 per share price, according to the Form-4 filing with the securities and exchange commission.
Hersha Hospitality Trust is a real estate investment trust (REIT). The Company invests in institutional grade hotels in urban gateway markets including New York Washington DC Boston Philadelphia South Florida and West Coast. The Company owns its hotels and its investments in joint ventures through its operating partnership Hersha Hospitality Limited Partnership for which it serves as general partner. The Company owned an approximately 95.8% partnership interest in its operating partnership. Its nationally-franchised hotels operating under brands such as Marriott Residence Inn by Marriott Courtyard by Marriott Hilton Hotels Hilton Garden Inn Hampton Inn Holiday Inn Express Candlewood Suites Hyatt House Hyatt Place Hyatt and Sheraton Hotels. Its portfolio consisted of approximately 46 wholly owned limited and service properties with a total of approximately 6587 rooms and interests in approximately five limited and service properties with a total of over 1369 rooms.