Jefferies Lowers Hersha Hospitality Trust PT

Jefferies lowered its Hersha Hospitality Trust HT price target from $6 to $5 in a research report published today. Jefferies has previously given Hersha Hospitality Trust a Hold rating. In the report, Jefferies states, "HT's results suggest urban markets continue to outperform and pressures evident in 1Q11 in NYC appear temporary. As well, margins have reached prior peak levels, although improvement in the portfolio should drive further upside. While we believe urban exposure is a clear positive, the limited service portfolio and associated shorter booking window tempers our stance on HT." Shares of Hersha Hospitality Trust closed today at $4.60, down 8.91% from Wednesday's market close.