Hersha Hospitality Trust (HT) Misses Q1 FFO by 6c
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Canaccord Genuity Remains Sidelined on Hersha Hospitality Trust (HT) Following 1Q Review
May 2, 2016 9:51 AM EDTCanaccord Genuity maintained a Hold rating on Hersha Hospitality Trust (NYSE: HT), and cut the price target to $21.00 (from $22.00), following a review of the company's 1Q. Cindat successfully brought the required equity into the US and the closing date is only waiting on final steps from the foreign lenders. However, despite ~$350M in gross proceeds from the Cindat JV transaction, Canaccord does not expect material share repurchases. HT will fund... More
