Hersha Hospitality Trust (HT) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.89 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.86. The company posted revenue of $127.70 million in the period, compared to analysts expectations of $128.55 million. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.
Many Wall Street Analysts have commented on Hersha Hospitality Trust. Hersha Hospitality Trust was Downgraded by BofA/Merrill to ” Neutral” on May 19, 2016.
Hersha Hospitality Trust opened for trading at $18.24 and hit $18.62 on the upside on Thursday, eventually ending the session at $18.34, with a gain of 0.49% or 0.09 points. The heightened volatility saw the trading volume jump to 7,11,044 shares. Company has a market cap of $808 M.
In a different news, on May 31, 2016, Michael A Leven (director) purchased 40,000 shares at $25.00 per share price. According to the SEC, on Feb 25, 2016, Donald J Landry (director) purchased 1,000 shares at $20.37 per share price. On Feb 23, 2016, Neil H Shah (COO) purchased 5,000 shares at $19.97 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.