Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Holdings in Hersha Hospitality Trust (NYSE:HT)

Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of Hersha Hospitality Trust (NYSE:HT) by 41.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,775 shares of the real estate investment trust’s stock after selling 14,057 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.05% of Hersha Hospitality Trust worth $339,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HT. Oregon Public Employees Retirement Fund acquired a new position in Hersha Hospitality Trust during the 4th quarter worth about $242,000. Rhumbline Advisers lifted its holdings in Hersha Hospitality Trust by 21.4% during the 4th quarter. Rhumbline Advisers now owns 111,704 shares of the real estate investment trust’s stock worth $1,959,000 after buying an additional 19,688 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Hersha Hospitality Trust in the 4th quarter valued at about $1,158,000. Geode Capital Management LLC lifted its stake in shares of Hersha Hospitality Trust by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 491,475 shares of the real estate investment trust’s stock valued at $8,620,000 after purchasing an additional 28,428 shares during the period. Finally, 1060 Capital LLC acquired a new position in shares of Hersha Hospitality Trust in the 4th quarter valued at about $12,639,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Shares of NYSE:HT traded down $0.07 during midday trading on Friday, reaching $16.54. The company’s stock had a trading volume of 394,766 shares, compared to its average volume of 361,482. The stock has a 50 day moving average of $17.42. Hersha Hospitality Trust has a fifty-two week low of $16.05 and a fifty-two week high of $24.16. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $632.92 million, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 1.51 and a beta of 1.40.

Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings results on Monday, April 29th. The real estate investment trust reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.42). Hersha Hospitality Trust had a return on equity of 1.34% and a net margin of 0.99%. The firm had revenue of $114.79 million for the quarter, compared to analyst estimates of $109.18 million. As a group, sell-side analysts anticipate that Hersha Hospitality Trust will post 2 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date is Thursday, June 27th. Hersha Hospitality Trust’s dividend payout ratio (DPR) is currently 50.91%.

A number of research analysts have recently issued reports on HT shares. Zacks Investment Research raised Hersha Hospitality Trust from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, May 1st. Deutsche Bank reissued a “hold” rating and issued a $18.00 price objective on shares of Hersha Hospitality Trust in a research note on Thursday, February 28th. Finally, ValuEngine raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.54.

In other news, insider Neil H. Shah purchased 6,060 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were acquired at an average cost of $16.48 per share, with a total value of $99,868.80. Following the purchase, the insider now owns 328,252 shares in the company, valued at $5,409,592.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 11.80% of the stock is currently owned by corporate insiders.

Hersha Hospitality Trust Company Profile

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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Institutional Ownership by Quarter for Hersha Hospitality Trust (NYSE:HT)

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