Hersha Hospitality Trust (NYSE:HT) : Zacks Investment Research ranks Hersha Hospitality Trust (NYSE:HT) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 9 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 11 research analysts is 2.64, which indicates as a Hold.
Hersha Hospitality Trust (NYSE:HT) has been rated by 8 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $28 and the lowest price target forecast is $17. The average forecast of all the analysts is $21.5 and the expected standard deviation is $3.59.
Company shares have received an average consensus rating of Hold for the current week Also, Equity Analysts at the Brokerage Firm, Bank of America, downgrades their rating on the shares of Hersha Hospitality Trust (NYSE:HT). Bank of America has a Neutral rating on the shares. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on May 19, 2016.
Hersha Hospitality Trust (NYSE:HT): stock turned positive on Tuesday. Though the stock opened at $15.81, the bulls momentum made the stock top out at $16.49 level for the day. The stock recorded a low of $15.81 and closed the trading day at $16.14, in the green by 4.40%. The total traded volume for the day was 1,658,086. The stock had closed at $15.46 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Hersha Hospitality Trust, Leven Michael A, had purchased 40,000 shares in a transaction dated on May 24, 2016. The transaction was executed at $25 per share with total amount equaling $1,000,000.
Hersha Hospitality Trust is a real estate investment trust (REIT). The Company invests in institutional grade hotels in urban gateway markets, including New York, Washington DC, Boston, Philadelphia, South Florida and West Coast. The Company owns its hotels and its investments in joint ventures through its operating partnership, Hersha Hospitality Limited Partnership, for which it serves as general partner. The Company owned an approximately 95.8% partnership interest in its operating partnership. Its nationally-franchised hotels operating under brands, such as Marriott, Residence Inn by Marriott, Courtyard by Marriott, Hilton Hotels, Hilton Garden Inn, Hampton Inn, Holiday Inn Express, Candlewood Suites, Hyatt House, Hyatt Place, Hyatt and Sheraton Hotels. Its portfolio consisted of approximately 46 wholly owned limited and service properties with a total of approximately 6,587 rooms and interests in approximately five limited and service properties with a total of over 1,369 rooms.