JPMorgan Chase & Co. boosted its stake in Hersha Hospitality Trust (NYSE:HT) by 3.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 312,625 shares of the real estate investment trust’s stock after purchasing an additional 11,055 shares during the quarter. JPMorgan Chase & Co. owned about 0.75% of Hersha Hospitality Trust worth $5,787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Hersha Hospitality Trust by 8.7% in the first quarter. Vanguard Group Inc. now owns 7,032,015 shares of the real estate investment trust’s stock worth $132,132,000 after acquiring an additional 561,377 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Hersha Hospitality Trust by 10,630.7% in the first quarter. BlackRock Inc. now owns 5,955,224 shares of the real estate investment trust’s stock worth $111,899,000 after acquiring an additional 5,899,727 shares in the last quarter. Brookfield Asset Management Inc. increased its holdings in shares of Hersha Hospitality Trust by 30.6% in the first quarter. Brookfield Asset Management Inc. now owns 3,013,725 shares of the real estate investment trust’s stock worth $56,628,000 after acquiring an additional 705,256 shares in the last quarter. State Street Corp boosted its position in shares of Hersha Hospitality Trust by 22.1% during the first quarter. State Street Corp now owns 1,657,738 shares of the real estate investment trust’s stock worth $31,153,000 after buying an additional 300,195 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Hersha Hospitality Trust by 76.0% during the first quarter. Bank of New York Mellon Corp now owns 723,546 shares of the real estate investment trust’s stock worth $13,595,000 after buying an additional 312,360 shares during the period. Institutional investors and hedge funds own 98.38% of the company’s stock.

Hersha Hospitality Trust (NYSE HT) traded up 0.62% during mid-day trading on Friday, hitting $19.40. The stock had a trading volume of 365,430 shares. The stock has a market cap of $811.58 million, a PE ratio of 8.51 and a beta of 1.39. The firm’s 50-day moving average price is $18.51 and its 200-day moving average price is $18.60. Hersha Hospitality Trust has a 1-year low of $16.80 and a 1-year high of $22.14.

Hersha Hospitality Trust (NYSE:HT) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). Hersha Hospitality Trust had a return on equity of 14.78% and a net margin of 22.77%. The business had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $134.55 million. During the same quarter in the previous year, the firm earned $0.89 EPS. Hersha Hospitality Trust’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that Hersha Hospitality Trust will post $2.23 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.77%. Hersha Hospitality Trust’s payout ratio is presently 48.70%.

In other Hersha Hospitality Trust news, insider Neil H. Shah bought 4,165 shares of the stock in a transaction on Wednesday, August 30th. The shares were acquired at an average price of $17.93 per share, with a total value of $74,678.45. Following the acquisition, the insider now directly owns 297,418 shares of the company’s stock, valued at approximately $5,332,704.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Neil H. Shah bought 1,667 shares of the stock in a transaction on Tuesday, August 29th. The shares were acquired at an average cost of $17.86 per share, for a total transaction of $29,772.62. Following the acquisition, the chief operating officer now directly owns 297,418 shares in the company, valued at $5,311,885.48. The disclosure for this purchase can be found here. Insiders bought a total of 8,679 shares of company stock worth $155,506 in the last 90 days. Company insiders own 8.10% of the company’s stock.

Several research firms have recently weighed in on HT. Stifel Nicolaus reaffirmed a “hold” rating and set a $19.00 price objective on shares of Hersha Hospitality Trust in a research report on Thursday. DA Davidson started coverage on Hersha Hospitality Trust in a research report on Friday, September 29th. They set a “buy” rating and a $21.00 price target for the company. BidaskClub raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Robert W. Baird reissued a “buy” rating and set a $20.00 price target on shares of Hersha Hospitality Trust in a research report on Thursday. Finally, FBR & Co set a $20.00 price target on Hersha Hospitality Trust and gave the company a “buy” rating in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.89.

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About Hersha Hospitality Trust

Hersha Hospitality Trust is a self-advised real estate investment trust (REIT). The Company invests primarily in institutional grade hotels in urban gateway markets, including New York, Washington, District of Columbia, Boston, Philadelphia, South Florida and select markets on the West Coast. As of July 20, 2017, the Company’s hotels included 51 hotels totaling 7,804 rooms located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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

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