Last $5.75 USD
Change Today -0.05 / -0.86%
Volume 1.4M
HT On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

hersha hospitality trust (HT) Snapshot

Open
$5.81
Previous Close
$5.80
Day High
$5.81
Day Low
$5.71
52 Week High
05/22/13 - $6.24
52 Week Low
08/28/13 - $5.18
Market Cap
1.2B
Average Volume 10 Days
1.4M
EPS TTM
$0.0093
Shares Outstanding
200.6M
EX-Date
03/27/14
P/E TM
619.7x
Dividend
$0.24
Dividend Yield
4.17%
Current Stock Chart for HERSHA HOSPITALITY TRUST (HT)

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hersha hospitality trust (HT) Details

Hersha Hospitality Trust, a real estate investment trust, engages in the ownership and operation of mid scale limited service hotels in the Eastern United States. As of June 30, 2005, it owned interests in 35 hotels, including 4 hotels owned through joint ventures in Pennsylvania, New York, New Jersey, Maryland, Georgia, Connecticut, and Massachusetts. The company has elected to be taxed as a REIT under the Internal Revenue Code. As a REIT, Hersha would not be subject to income tax to the extent it distributes at least 90% of its taxable income to its stockholders. The company was founded in 1998 and is headquartered in New Cumberland, Pennsylvania.

49 Employees
Last Reported Date: 02/27/14
Founded in 1998

hersha hospitality trust (HT) Top Compensated Officers

Chief Executive Officer and Trustee
Total Annual Compensation: $680.0K
President and Chief Operating Officer
Total Annual Compensation: $655.0K
Chief Financial Officer and Assistant Secreta...
Total Annual Compensation: $425.0K
Chairman and President of Hersha Enterprises ...
Total Annual Compensation: $225.0K
Chief Accounting Officer, Controller and Assi...
Total Annual Compensation: $285.0K
Compensation as of Fiscal Year 2013.

hersha hospitality trust (HT) Key Developments

Hersha Hospitality Trust Announces Preferred and Common Share Dividends for the First Quarter Ending March 31, 2014, Payable on April 15, 2014

Hersha Hospitality Trust announced that its Board of trustees declared a cash dividend of $0.50 per Series B preferred share and $0.4297 per Series C preferred share for the first quarter ending March 31, 2014. The preferred share dividends are payable April 15, 2014 to holders of record as of April 1, 2014. The Board of trustees also declared quarterly cash dividends of $0.06 per common share and per limited partnership unit for the first quarter ending March 31, 2014. The common share dividend and limited partnership unit distribution are payable April 15, 2014 to holders of record as of March 31, 2014.

Hersha Hospitality Trust Closes $500 Million Senior Unsecured Credit Facility

Hersha Hospitality Trust announced that the company has closed on a new $500 million senior unsecured credit facility that is expandable to $850 million. The credit facility consists of a $250 million senior unsecured revolving line of credit and a $250 million senior unsecured term loan. This new Facility amends and restates the company's existing $400 million senior secured revolving credit facility. The interest rate for the Revolving Credit Facility is based on a pricing grid with a range of 170 to 245 basis points over LIBOR, based on the company's leverage ratio. Pricing for the Term Loan is LIBOR plus 160 to 235 basis points also based on the company's leverage ratio. The company will use the new Facility for general corporate purposes.

Hersha Hospitality Seeks Acquisitions

Hersha Hospitality Trust (NYSE:HT) is looking for acquisition opportunities. Jay Shah, Chief Executive Officer of Hersha Hospitality said, “The dividend is always going to be a board decision, and we will continue to look at whether or not the dividend warrants being increased or not. I think, as we've mentioned in the most recent press release and on our comments today, I think we are currently with additional cash that we have available, we are going to continue to look for opportunities that are unique from an acquisition standpoint. And if we don’t find those I think right now our stock is looking very attractive to us. We feel that it is irrationally priced, and it might be best use of our cash today to be buying back stock.”

 

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