SeaCrest Wealth Management LLC Invests $35,000 in Hersha Hospitality Trust (NYSE:HT)

SeaCrest Wealth Management LLC purchased a new position in shares of Hersha Hospitality Trust (NYSE:HTGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,600 shares of the real estate investment trust’s stock, valued at approximately $35,000.

Several other large investors also recently modified their holdings of the stock. KBC Group NV boosted its holdings in Hersha Hospitality Trust by 24.5% in the 1st quarter. KBC Group NV now owns 12,607 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 2,480 shares during the period. JPMorgan Chase & Co. boosted its holdings in Hersha Hospitality Trust by 23.1% in the 1st quarter. JPMorgan Chase & Co. now owns 15,626 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 2,936 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Hersha Hospitality Trust in the 1st quarter worth approximately $195,000. Commonwealth Equity Services LLC bought a new position in Hersha Hospitality Trust in the 1st quarter worth approximately $222,000. Finally, State of Tennessee Treasury Department boosted its holdings in Hersha Hospitality Trust by 10.0% in the 1st quarter. State of Tennessee Treasury Department now owns 24,884 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 2,270 shares during the period. Hedge funds and other institutional investors own 69.38% of the company’s stock.

Hersha Hospitality Trust Stock Performance

NYSE HT opened at $9.76 on Wednesday. Hersha Hospitality Trust has a 52-week low of $7.46 and a 52-week high of $12.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $386.96 million, a P/E ratio of 5.39, a P/E/G ratio of 0.18 and a beta of 2.06. The company has a fifty day moving average of $8.77 and a 200-day moving average of $9.75.

Hersha Hospitality Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Thursday, September 29th. Hersha Hospitality Trust’s dividend payout ratio is currently 11.05%.

Analysts Set New Price Targets

Several research firms recently commented on HT. StockNews.com began coverage on shares of Hersha Hospitality Trust in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Hersha Hospitality Trust from $9.00 to $10.00 in a report on Monday, August 22nd. Wells Fargo & Company cut their price target on shares of Hersha Hospitality Trust from $11.50 to $10.00 and set an “equal weight” rating for the company in a report on Friday, October 28th. B. Riley cut their price target on shares of Hersha Hospitality Trust from $13.00 to $11.00 in a report on Monday, November 7th. Finally, TheStreet raised shares of Hersha Hospitality Trust from a “d+” rating to a “c-” rating in a report on Thursday, August 4th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Hersha Hospitality Trust currently has a consensus rating of “Hold” and a consensus target price of $11.79.

Hersha Hospitality Trust Profile

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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.

See Also

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

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