hersha hospitality trust (HT) Key Developments
Hersha Hospitality Trust Declares Cash Dividend on Series B Preferred Share and Series C Preferred Share and Cash Dividend on Common Share for the Second Quarter Ending June 30, 2015, Payable on July 15, 2015
May 21 15
Hersha Hospitality Trust announced that its board of trustees declared a cash dividend of $0.50 per Series B Preferred Share and $0.4297 per Series C Preferred Share for the second quarter ending June 30, 2015. The preferred share dividends are payable on July 15, 2015 to holders of record as of July 1, 2015.
The board of trustees also declared quarterly cash dividends of $0.07 per common share and per Limited Partnership unit for the second quarter ending June 30, 2015. The common share dividend and limited partnership unit distribution are payable on July 15, 2015 to holders of record as of June 30, 2015.
Hersha Hospitality Trust Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015
Apr 28 15
Hersha Hospitality Trust reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of USD 95.712 million compared to USD 79.950 million a year ago. Operating income was USD 6.641 million compared to USD 5.624 million a year ago. Loss before income taxes were USD 4.389 million compared to USD 5.288 million a year ago. Loss from continuing operations was USD 4.389 million compared to USD 5.180 million a year ago. Net loss was USD 4.389 million compared to USD 6.513 million a year ago. Diluted loss per share from continuing operations was USD 0.04 compared to USD 0.04 a year ago. Net loss applicable to common shareholders per share was USD 0.04 compared to USD 0.05 a year ago. Adjusted funds from operations were USD 13.733 million or USD 0.07 per share compared to USD 11.635 million or USD 0.06 per share a year ago. Adjusted EBITDA was USD 28.369 million compared to USD 26.122 million a year ago. CapEx was USD 5.2 million.
The company is maintaining operating and financial expectations for 2015 for the Company’s consolidated and comparable portfolios. These expectations assume operating and economic fundamentals remain unchanged and also assume no additional acquisitions, dispositions or capital market activities. For the year 2015, the company expected net income in the range of USD 27.0 million to USD 31.0 million, net Income per diluted share in the range of USD 0.13 to USD 0.15, Consolidated RevPAR Growth is expected to be 6.0% to 8.0%. The company expected consolidated EBITDA margin growth in the range of 75 bps to 125 bps. The company expected comparable property RevPAR Growth in the range of 5.0% to 6.0%. The company expected comparable property EBITDA Margin Growth in the range of 50 bps to 100 bps. The company expected adjusted EBITDA in the range of USD 176.0 million to USD 180.0 million, adjusted FFO is expected in the range of USD 116.0 million to USD 120.0 million, adjusted FFO per diluted share and unit of USD 0.56 to USD 0.58. The company still targeting USD 18 million to USD 22 million in CapEx spending.
Hersha Hospitality Trust, Annual General Meeting, May 21, 2015
Apr 17 15
Hersha Hospitality Trust, Annual General Meeting, May 21, 2015., at 09:00 US Eastern Standard Time. Location: ONE WASHINGTON SQUARE. Agenda: To elect three Class II Trustees to the Board of Trustees; to approve on an advisory basis the compensation of the company’s named executive officers; to ratify the appointment of KPMG LLP as the company’s independent auditors; and to transact such other business as may properly come before the annual meeting and any adjournment or postponement thereof.
Hersha Hospitality Trust Presents at Robert W. Baird & Co. Inc. 2015 Growth Stock Conference, May-07-2015 09:45 AM
Apr 6 15
Hersha Hospitality Trust Presents at Robert W. Baird & Co. Inc. 2015 Growth Stock Conference, May-07-2015 09:45 AM. Venue: Four Seasons Hotel, Chicago, Illinois, United States. Speakers: Ashish R. Parikh, Chief Financial Officer and Assistant Secretary, Jay H. Shah, Chief Executive Officer and Trustee, Neil H. Shah, President and Chief Operating Officer.
Hersha Hospitality Trust to Report Q1, 2015 Results on Apr 27, 2015
Mar 23 15
Hersha Hospitality Trust announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on Apr 27, 2015