Fintel reports that on September 1, 2023, B. Riley Securities downgraded their outlook for Hersha Hospitality Trust – (NYSE:HT) from Buy to Neutral.

Analyst Price Forecast Suggests 0.67% Downside

As of August 31, 2023, the average one-year price target for Hersha Hospitality Trust – is 9.75. The forecasts range from a low of 7.58 to a high of $10.50. The average price target represents a decrease of 0.67% from its latest reported closing price of 9.82.

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The projected annual revenue for Hersha Hospitality Trust – is 390MM, an increase of 4.45%. The projected annual non-GAAP EPS is -0.51.

What is the Fund Sentiment?

There are 293 funds or institutions reporting positions in Hersha Hospitality Trust -. This is a decrease of 78 owner(s) or 21.02% in the last quarter. Average portfolio weight of all funds dedicated to HT is 0.05%, a decrease of 13.33%. Total shares owned by institutions decreased in the last three months by 9.97% to 25,266K shares. The put/call ratio of HT is 0.67, indicating a bullish outlook.

What are Other Shareholders Doing?

Millennium Management holds 1,471K shares representing 3.67% ownership of the company. In it’s prior filing, the firm reported owning 1,849K shares, representing a decrease of 25.74%. The firm decreased its portfolio allocation in HT by 38.02% over the last quarter.

Prudential Financial holds 1,309K shares representing 3.26% ownership of the company. In it’s prior filing, the firm reported owning 937K shares, representing an increase of 28.41%. The firm increased its portfolio allocation in HT by 275.00% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,110K shares representing 2.77% ownership of the company. No change in the last quarter.

IWM – iShares Russell 2000 ETF holds 837K shares representing 2.09% ownership of the company. In it’s prior filing, the firm reported owning 688K shares, representing an increase of 17.84%. The firm increased its portfolio allocation in HT by 1.68% over the last quarter.

Lsv Asset Management holds 707K shares representing 1.76% ownership of the company. No change in the last quarter.

Hersha Hospitality Trust Background Information
(This description is provided by the company.)

Hersha Hospitality Trust is a self-advised real estate investment trust in the hospitality sector, which owns and operates high-quality hotels in urban gateway markets and regional resort destinations. The Company’s 40 hotels totaling 6,250 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

This article originally appeared on Fintel