Hersha Hospitality Trust (NYSE:HT) Expected to Announce Quarterly Sales of $115.81 Million

Analysts predict that Hersha Hospitality Trust (NYSE:HTGet Rating) will post sales of $115.81 million for the current quarter, Zacks reports. Five analysts have made estimates for Hersha Hospitality Trust’s earnings. The highest sales estimate is $127.00 million and the lowest is $107.39 million. Hersha Hospitality Trust posted sales of $70.10 million during the same quarter last year, which suggests a positive year-over-year growth rate of 65.2%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Hersha Hospitality Trust will report full year sales of $423.16 million for the current year, with estimates ranging from $406.74 million to $431.50 million. For the next year, analysts forecast that the firm will report sales of $451.13 million, with estimates ranging from $413.20 million to $485.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Hersha Hospitality Trust.

Hersha Hospitality Trust (NYSE:HTGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Hersha Hospitality Trust had a negative net margin of 21.97% and a negative return on equity of 10.87%. During the same quarter in the previous year, the company posted ($0.36) EPS.

Several equities analysts have recently weighed in on the stock. B. Riley increased their price objective on shares of Hersha Hospitality Trust from $10.00 to $11.00 in a research note on Tuesday, February 22nd. BMO Capital Markets upgraded shares of Hersha Hospitality Trust from an “underperform” rating to a “market perform” rating and set a $10.00 price objective on the stock in a research note on Friday, January 7th. Oppenheimer assumed coverage on shares of Hersha Hospitality Trust in a research note on Thursday, April 21st. They issued an “outperform” rating and a $14.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Hersha Hospitality Trust from $11.50 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, March 10th. Finally, Raymond James upgraded shares of Hersha Hospitality Trust from an “underperform” rating to a “market perform” rating in a research note on Monday, January 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.85.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Hersha Hospitality Trust by 4.2% in the fourth quarter. BlackRock Inc. now owns 5,443,785 shares of the real estate investment trust’s stock worth $49,918,000 after buying an additional 218,605 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Hersha Hospitality Trust by 95.2% in the fourth quarter. Wells Fargo & Company MN now owns 35,336 shares of the real estate investment trust’s stock worth $325,000 after buying an additional 17,238 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Hersha Hospitality Trust by 192.2% in the fourth quarter. MetLife Investment Management LLC now owns 11,477 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 7,549 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Hersha Hospitality Trust by 3.4% in the fourth quarter. Legal & General Group Plc now owns 69,408 shares of the real estate investment trust’s stock worth $636,000 after buying an additional 2,310 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Hersha Hospitality Trust by 157.9% in the fourth quarter. Millennium Management LLC now owns 753,110 shares of the real estate investment trust’s stock worth $6,906,000 after buying an additional 461,134 shares in the last quarter. Institutional investors own 60.28% of the company’s stock.

Shares of NYSE HT opened at $10.07 on Wednesday. The firm’s 50-day moving average price is $9.19 and its 200-day moving average price is $9.37. Hersha Hospitality Trust has a 52-week low of $7.92 and a 52-week high of $12.42. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.53. The company has a market cap of $396.30 million, a PE ratio of -4.38 and a beta of 2.25.

About Hersha Hospitality Trust (Get Rating)

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale and lifestyle hotels in 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 markets on the West Coast.

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Earnings History and Estimates for Hersha Hospitality Trust (NYSE:HT)

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