() updated its earnings guidance for the second quarter of 2023 on Thursday morning. The company gave a guidance for earnings per share (EPS), which ranged from $0.39 to $0.45, in comparison with the consensus estimate of $0.42. The company provided revenue guidance of $.
Hersha Hospitality Trust stock up 1.3 %
Trading on Friday saw a $0.08 increase, bringing the price to $6.30. The trading volume was 532,245 compared to the average of 422,858. The company's market cap is $250.30 millions, with a PE of 2.03 and beta of 2.01. The company has a moving average for 50 days of $6.95, and a moving average for 200 days of $8.28. The debt-to equity ratio for the company is 0.78. Its current ratio is 2.15, and its quick ratio is 2.46. A quarterly dividend was also announced by the company and paid out on Monday, 17th April. Investors who were in the records on Friday, March 31, received a dividend of $0.05. Ex-dividend day was March 30th. This is a $0.20 annualized dividend and a dividend yield 3.17%. Hersha Hospitality Trust has a dividend payout ratio of 6.43%.
Analyst Ratings Changes
Recently, a number of equity analysts published reports on the stock. B. Riley Financial reiterated its neutral rating for shares of Hersha Hospitality Trust on Saturday, 25th February in a research note. B. Riley reiterated a Neutral rating on shares Hersha Hospitality Trust on Friday, 24th February. In a Friday research report, Hersha Hospitality Trust shares were downgraded from a Hold rating to a Sell rating. Barclays lowered their price target on shares of Hersha Hospitality Trust on Tuesday from $10.00 down to $9.00, and assigned an underweight rating to the company. Two analysts have given the stock a sell recommendation, while three others have assigned it a hold rating. Meanwhile, two other analysts have assigned the stock a buy recommendation. MarketBeat data shows that Hersha Hospitality Trust has an average rating Hold, and an average price of $10.75.
Hersha Hospitality trust: Insider transactions
Director Thomas J. Hutchison III, in related news, purchased 5,000 Hersha Hospitality Trust shares on Thursday, February 23rd. The stock was purchased at $8.56 on average per share with a value of $42,800.00. After the completion of this transaction, the director owns directly 151,319 of the company's shares, worth $1,295,290.64. Insiders own 22,40% of the company's stock.
Institutional Trading of Hersha Hospitality Trust
Recent changes in hedge funds' positions in the stock have been made. BlackRock Inc. increased its holdings of Hersha Hospitality Trust during the third quarter by 3.3%. BlackRock Inc. owns now 5,708,933 of the real estate trust's stock, valued at $45,556,000. This is after buying an additional 183.089 shares in the last quarter. Vanguard Group Inc. increased its stake in Hersha Hospitality Trust shares by 4.5% during the third quarter. Vanguard Group Inc. owns 2,823,991 of the real estate trust's stock, worth $22,536,000. This is after purchasing an additional 1223,345 shares in the third quarter. State Street Corp increased its holdings in Hersha Hospitality Trust shares by 1.1% during the third quarter. State Street Corp owns 1,698,461 of the real estate trust's shares worth $13,639,000, after purchasing an additional 17,776 during the last quarter. Millennium Management LLC increased its holdings in Hersha Hospitality Trust shares by 1,635.3% during the fourth quarter. Millennium Management LLC owns 1,310 139 shares worth $11,162,000 of the stock of the real estate trust after purchasing an additional 1,234,641 during the fourth quarter. LSV Asset Management increased its holding in Hersha Hospitality Trust during the first three months by 2.6%. LSV Asset Management owns 787.202 shares worth $7,148,000 of the stock of the real estate trust after purchasing an additional 19,638 in the last quarter. Hedge funds and institutional investors own 65.29%.
Hersha Hospitality Trust
Hersha Hospitality Trust, a self advised real estate investment trust that operates and owns hotels in urban gateways markets, is a hospitality-focused fund. The hotel properties of Hersha Hospitality Trust are located in New York City, Boston, Philadelphia Washington, District of Columbia and Miami.
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