Market Overview

UPDATE: BMO Capital Markets Initiates Hersha Hospitality Trust at Market Perform on Earnings Weakness

Related HT
Cycle In Lodging 'Appears To Be Over'; BofA Downgrades 4 Stocks, Lowers Targets On 6
Hersha Hospitality Gains More Than 12% Following $571 Million Asset Sale

BMO Capital Markets initiated coverage on Hersha Hospitality Trust (NYSE: HT) with a Market Perform rating and a $6.00 price target.

BMO Capital Markets commented, "We like the long-term growth prospects of its mostly urban portfolio and its associated higher EBITDA margins. However, weaker-than-expected 3Q12 earnings related to softness in New York City revealed how tied company performance is to that market, which generates 44% of its EBITDA. High supply growth in New York City is expected in 2013/2014 and may add further headwinds to performance. Washington, D.C. (12% EBITDA) also continues to be affected by federal travel spending reductions and it too has high expected supply growth."

Hersha Hospitality Trust closed at $5.17 on Monday.

Latest Ratings for HT

May 2016Bank of AmericaDowngradesBuyNeutral
Mar 2016Stifel NicolausAssumesHold
Feb 2016BarclaysMaintainsEqualweight

View More Analyst Ratings for HT
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Initiation Pre-Market Outlook Analyst Ratings


Related Articles (HT)

View Comments and Join the Discussion!