Keefe, Bruyette & Woods Reports on Hersha Hospitality Trust (HT)

In a report released today, Keefe, Bruyette & Woods commented on Hersha Hospitality Trust HT. In the report, Keefe was slightly positive in its assessment of the company. Keefe writes, “Following the company's recent preferred offering we are leaving our 2Q-4Q FFO estimates unchanged, but reducing full year 2011 by a penny to reflect 1Q results. Our 2012 FFO estimates remain unchanged, given incremental earnings from acquired properties should offset incremental interest expense. Maintaining Outperform rating and $7.50 price target, or 13.5x 2012 EBITDA of $165.4M.” Keefe currently has an Outperform rating on the company and a target price of $7.50. Shares of the company closed yesterday at $6.09, up $0.08 from the open.