Analysts forecast that Hersha Hospitality Trust (NYSE:HT) will post $136.39 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Hersha Hospitality Trust’s earnings. The lowest sales estimate is $131.48 million and the highest is $143.38 million. Hersha Hospitality Trust reported sales of $138.00 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.2%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, July 24th.
On average, analysts expect that Hersha Hospitality Trust will report full year sales of $507.34 million for the current financial year, with estimates ranging from $494.26 million to $522.06 million. For the next fiscal year, analysts forecast that the company will post sales of $532.37 million per share, with estimates ranging from $507.89 million to $545.74 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Hersha Hospitality Trust.
Hersha Hospitality Trust (NYSE:HT) last released its earnings results on Tuesday, April 24th. The real estate investment trust reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.84). The firm had revenue of $99.64 million during the quarter, compared to analysts’ expectations of $102.92 million. Hersha Hospitality Trust had a net margin of 11.06% and a return on equity of 5.74%.
Several research analysts have recently weighed in on the stock. Robert W. Baird set a $18.00 price objective on shares of Hersha Hospitality Trust and gave the stock a “buy” rating in a report on Tuesday, February 27th. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Friday, March 2nd. Stifel Nicolaus increased their price objective on shares of Hersha Hospitality Trust from $18.50 to $19.50 and gave the stock a “hold” rating in a report on Wednesday, April 25th. B. Riley lowered shares of Hersha Hospitality Trust from a “buy” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a report on Thursday, April 26th. Finally, Raymond James lowered shares of Hersha Hospitality Trust to a “hold” rating in a report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.81.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in Hersha Hospitality Trust in the first quarter valued at approximately $113,000. Assetmark Inc. raised its holdings in Hersha Hospitality Trust by 5,758.2% in the fourth quarter. Assetmark Inc. now owns 8,260 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 8,119 shares during the period. Koch Industries Inc. acquired a new stake in Hersha Hospitality Trust in the first quarter valued at approximately $185,000. AMP Capital Investors Ltd acquired a new stake in Hersha Hospitality Trust in the fourth quarter valued at approximately $208,000. Finally, Element Capital Management LLC acquired a new stake in Hersha Hospitality Trust in the first quarter valued at approximately $225,000. Hedge funds and other institutional investors own 95.11% of the company’s stock.
Hersha Hospitality Trust traded up $0.28, reaching $21.63, on Wednesday, MarketBeat.com reports. The stock had a trading volume of 592,493 shares, compared to its average volume of 345,450. The firm has a market cap of $839.71 million, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 2.12 and a beta of 1.32. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.05. Hersha Hospitality Trust has a 12-month low of $16.60 and a 12-month high of $21.88.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.12 annualized dividend and a yield of 5.18%. Hersha Hospitality Trust’s payout ratio is 51.85%.
About Hersha Hospitality Trust
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets and coastal destinations. The Company's 49 hotels totaling 7,653 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hersha Hospitality Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hersha Hospitality Trust and related companies with MarketBeat.com's FREE daily email newsletter.