B. Riley Lowers Hersha Hospitality Trust (NYSE:HT) Price Target to $4.00

Hersha Hospitality Trust (NYSE:HT) had its price objective cut by investment analysts at B. Riley from $14.00 to $4.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. B. Riley’s price target would suggest a potential downside of 10.11% from the company’s previous close. B. Riley also issued estimates for Hersha Hospitality Trust’s Q1 2020 earnings at $0.20 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $0.37 EPS, Q4 2020 earnings at $0.53 EPS, FY2020 earnings at $1.31 EPS, Q1 2021 earnings at $0.05 EPS, Q2 2021 earnings at $0.48 EPS, Q3 2021 earnings at $0.37 EPS, Q4 2021 earnings at $0.38 EPS, FY2021 earnings at $1.29 EPS and FY2022 earnings at $1.40 EPS.

A number of other brokerages have also commented on HT. Deutsche Bank cut their price objective on shares of Hersha Hospitality Trust from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Tuesday, February 25th. Zacks Investment Research raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Stifel Nicolaus dropped their price target on shares of Hersha Hospitality Trust from $14.00 to $4.50 and set a “hold” rating on the stock in a research report on Tuesday, March 17th. ValuEngine lowered shares of Hersha Hospitality Trust from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Finally, DA Davidson lowered shares of Hersha Hospitality Trust from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $8.00 to $7.00 in a research report on Tuesday, March 10th. Five analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Sell” and an average price target of $9.19.

Shares of HT stock traded up $0.24 during trading on Monday, reaching $4.45. The company’s stock had a trading volume of 1,317,847 shares, compared to its average volume of 849,658. The business has a fifty day moving average price of $9.91 and a 200-day moving average price of $13.10. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.30. The company has a market cap of $145.21 million, a price-to-earnings ratio of -5.93, a price-to-earnings-growth ratio of 1.64 and a beta of 1.33. Hersha Hospitality Trust has a one year low of $2.29 and a one year high of $19.58.

Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings data on Monday, February 24th. The real estate investment trust reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.70). The business had revenue of $132.67 million during the quarter, compared to the consensus estimate of $131.79 million. Hersha Hospitality Trust had a negative return on equity of 0.45% and a negative net margin of 0.76%. Research analysts anticipate that Hersha Hospitality Trust will post 1.51 EPS for the current year.

In related news, CEO Jay H. Shah acquired 7,300 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average cost of $13.51 per share, for a total transaction of $98,623.00. Following the completion of the acquisition, the chief executive officer now directly owns 316,349 shares in the company, valued at $4,273,874.99. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, COO Neil H. Shah acquired 3,846 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was bought at an average price of $12.98 per share, for a total transaction of $49,921.08. Following the completion of the acquisition, the chief operating officer now owns 365,532 shares of the company’s stock, valued at $4,744,605.36. The disclosure for this purchase can be found here. Insiders have acquired 112,356 shares of company stock worth $1,182,993 over the last ninety days. Insiders own 11.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Hersha Hospitality Trust in the fourth quarter valued at $4,512,000. Geode Capital Management LLC grew its stake in shares of Hersha Hospitality Trust by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 622,511 shares of the real estate investment trust’s stock valued at $9,057,000 after acquiring an additional 30,384 shares in the last quarter. Man Group plc grew its stake in shares of Hersha Hospitality Trust by 7.8% in the fourth quarter. Man Group plc now owns 181,000 shares of the real estate investment trust’s stock valued at $2,634,000 after acquiring an additional 13,100 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Hersha Hospitality Trust by 72.6% in the fourth quarter. Cubist Systematic Strategies LLC now owns 52,017 shares of the real estate investment trust’s stock valued at $757,000 after acquiring an additional 21,873 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Hersha Hospitality Trust by 121.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 24,600 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 13,500 shares in the last quarter. Hedge funds and other institutional investors own 76.07% of the company’s stock.

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, luxury and lifestyle hotels in urban gateway markets and coastal destinations. The Company's 48 hotels totaling 7,644 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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Analyst Recommendations for Hersha Hospitality Trust (NYSE:HT)

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