Robert W. Baird Reiterates a Buy Rating on Hersha Hospitality Trust

By Ryan Adsit

Robert W. Baird analyst Michael Bellisario reiterated a Buy rating on Hersha Hospitality Trust (NYSE: HT) on October 9 and set a price target of $20. The company’s shares opened today at $18.95.

According to TipRanks.com, Bellisario is a 3-star analyst with an average return of 5.4% and a 88.5% success rate. Bellisario covers the Financial sector, focusing on stocks such as Condor Hospitality Trust Inc, Ashford Hospitality Trust, and Ashford Hospitality Prime.

Currently, the analyst consensus on Hersha Hospitality Trust is Strong Buy and the average price target is $20, representing a 5.5% upside.

In a report issued on September 29, D.A. Davidson also initiated coverage with a Buy rating on the stock with a $21 price target.

Based on Hersha Hospitality Trust’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $138 million and quarterly net profit of $79.95 million. In comparison, last year the company earned revenue of $120 million and had a net profit of $7.88 million.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Hersha Hospitality Trust is a self-advised real estate investment trust in the hospitality sector, which owns and operates hotels in urban gateway markets. Its hotel properties are located in in New York, Boston, Philadelphia, Washington, the District of Columbia, Miami, and select markets on the West Coast. The company was founded by Hasu P.