Hersha Hospitality Trust (NYSE: HT)‘s stock had its “hold” rating reiterated by investment analysts at Deutsche Bank in a note issued to investors on Monday. They currently have a $5.25 target price on the stock, up from their previous target price of $5.00.
The analysts wrote, “We are updating our HT model post 4Q results and HT’s preferred equity offering. Strong transient demand in NYC following Superstorm Sandy has provided HT’s hotels with a temporary lift. While supply growth in NYC may be delayed by the storm, the high profitability of mid-block limited service hotels in NYC will attract new supply, limiting rate growth potential in our view. Our price target goes to $5.25. We remain at Hold.”
Hersha Hospitality Trust traded up 0.62% on Monday, hitting $5.725. Hersha Hospitality Trust has a 1-year low of $4.19 and a 1-year high of $5.91. The stock’s 50-day moving average is currently $5.37. The company has a market cap of $1.138 billion and a price-to-earnings ratio of 135.48.
Hersha Hospitality Trust last announced its earnings results on Wednesday, February 20th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.10 by $0.01. The company had revenue of $98.90 million for the quarter, compared to the consensus estimate of $94.36 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was up 29.5% on a year-over-year basis. On average, analysts predict that Hersha Hospitality Trust will post $0.45 earnings per share for the current fiscal year.
A number of other firms have also recently commented on HT. Analysts at TheStreet upgraded shares of Hersha Hospitality Trust from a “hold” rating to a “buy” rating in a research note to investors on Friday, February 22nd. Analysts at BMO Capital Markets initiated coverage on shares of Hersha Hospitality Trust in a research note to investors on Monday, January 14th. They set a “market perform” rating and a $5.75 price target on the stock.
Three analysts have rated the stock with a buy rating, two have assigned an overweight rating, and seven have given a hold rating to the stock. Hersha Hospitality Trust presently has an average rating of “overweight” and an average target price of $6.00.
Hersha Hospitality Trust (Hersha) is a self-advised real estate investment trust (REIT). The Company invests primarily in institutional grade hotels in business districts, primary suburban office markets and stable destination and secondary markets in the Northeastern United States, and select markets on the West Coast.
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