Downgrade Alert for Hersha Hospitality Trust (HT)
Hersha Hospitality Trust (AMEX:HT) was downgraded from Buy to Neutral at BofA/Merrill today. The stock closed yesterday at $17.37 on volume of 967,000 shares, above average daily volume of 414,000.
Hersha Hospitality Trust (AMEX:HT) has potential upside of 58.3% based on a current price of $17.37 and analysts' consensus price target of $27.50. Hersha Hospitality Trust shares should first meet resistance at the 50-day moving average (MA) of $20.65 and find additional resistance at the 200-day MA of $22.30.
Hersha Hospitality Trust share prices have moved between a 52-week high of $28.60 and a 52-week low of $16.13 and closed yesterday at 8% above that low price at $17.37 per share. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.3%.
Hersha Hospitality Trust is a real estate investment trust (REIT) that owns and operates upscale and mid-scale limited service and extended-stay hotels in established metropolitan markets. The trust owns and operates hotels in multiple states throughout the Northeastern United States.
SmarTrend recommended that its subscribers protect gains by selling shares of Hersha Hospitality Trust on April 29th, 2016 by issuing a Downtrend alert when the shares were trading at $19.25. Since that call, shares of Hersha Hospitality Trust have fallen 8.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades amex:ht hersha hospitality trust