Short-term stake in Hersha Hospitality Trust (NYSE:HT) drops 18.1%

Hersha Foster Trust (NYSE: HTGet an assessment) benefited from a sharp fall in short-term interest rates during the month of October. As of October 15, there was short interest totaling 966,100 shares, down 18.1% from the September 30 total of 1,180,000 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average trading volume of 286,100 shares, the day-to-cover ratio is currently 3.4 days.

Hersha Hospitality Trust shares up 1.9%

excluding tax traded down $0.17 on Friday, hitting $8.99. The company’s stock had a trading volume of 441,985 shares, compared to an average volume of 285,905. The stock has a 50-day moving average of $9.05 and a two-hundred-day moving average of 9.79 $. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt ratio of 1.51. The company has a market capitalization of $356.00 million, a price/earnings ratio of 4.97, a P/E/G ratio of 0.16 and a beta of 2.05. Hersha Hospitality Trust has a fifty-two week minimum of $7.46 and a fifty-two week maximum of $12.15.

Hersha Hospitality Trust cuts its dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 17. Shareholders of record on Friday, September 30 received a dividend of $0.05. This represents an annualized dividend of $0.20 and a dividend yield of 2.22%. The ex-dividend date was Thursday, September 29. Hersha Hospitality Trust’s payout ratio is currently 11.05%.

Analysts set new price targets

Several analysts have recently released reports on HT stocks. Deutsche Bank Aktiengesellschaft raised its price target on Hersha Hospitality Trust shares from $9.00 to $10.00 in a Monday, August 22 report. TheStreet upgraded shares of Hersha Hospitality Trust from a “d+” rating to a “c-” rating in a Thursday, August 4 report. StockNews.com launched a hedge on the shares of Hersha Hospitality Trust in a report on Wednesday, October 12. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company cut its price target on Hersha Hospitality Trust shares from $11.50 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday. Five research analysts gave the stock a hold rating and three gave the stock a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.79.

Institutional investors weigh in on Hersha Hospitality Trust

Several large investors have recently changed their stake in the company. Allspring Global Investments Holdings LLC increased its holdings of Hersha Hospitality Trust shares by 710.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,034 shares of the real estate investment trust valued at $32,000 after acquiring 3,536 additional shares during the period. Versor Investments LP acquired a new equity stake in Hersha Hospitality Trust during the third quarter at a value of $90,000. Sumitomo Mitsui Trust Holdings Inc. increased its equity stake in Hersha Hospitality Trust by 11.9% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 38,960 shares of the real estate investment trust worth $311,000 after purchasing an additional 4,133 shares during the period. Louisiana State Employees Retirement System acquired a new equity stake in Hersha Hospitality Trust during the third quarter valued at $125,000. Finally, Bailard Inc. acquired a new equity stake in Hersha Hospitality Trust during the third quarter at a value of $358,000. 69.38% of the shares are held by institutional investors and hedge funds.

Hersha Hospitality Trust Company Profile

(Get an assessment)

Hersha Hospitality Trust (HT) is a self-managed real estate investment trust in the hospitality industry, which owns and operates high quality upscale and lifestyle hotels in the urban gateway markets and resort destinations . The company’s 49 hotels totaling 7,774 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select West Coast markets.

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