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Hersha Hospitality Trust (HT) Q1 2023 Earnings Call Transcript.
Hersha Hospitality (HT) came out with quarterly funds from operations (FFO) of $0.02 per share, missing the Zacks Consensus Estimate of $0.07 per share. This compares to FFO of $0.06 per share a year ago.
Since the beginning of the month, Hersha has sold off from $8.60/share to the current price of $6.15, despite hotel booking trends improving. Last year, Hersha sold off 9 of their 33 hotels, reducing net debt from $1.1 billion at year-end 2021 to just $405.2 million currently.
PHILADELPHIA, March 20, 2023 (GLOBE NEWSWIRE) -- Hersha Hospitality Trust (NYSE: HT) (“Hersha” or the “Company”), owner of luxury and lifestyle hotels in coastal gateway and resort markets, today announced that the Company will release its financial results for the first quarter 2023 after the market close on Wednesday, April 26, 2023. The Company will host a conference call to discuss these results at 9:00 AM Eastern Time on Thursday, April 27, 2023. Hosting the call will be Mr. Neil H. Shah, President and Chief Executive Officer, and Mr. Ashish Parikh, Chief Financial Officer.
The following slide deck was published by Hersha Hospitality Trust in conjunction with this event.
Hersha Hospitality Trust reported AFFO of $0.34 for 4Q compared to $0.22 in 4Q 2021 on February 15. Guidance for 1Q 2023 is $0.04 to $0.08 AFFO, which is somewhat disappointing.
Hersha Hospitality Trust (NYSE:HT ) Q4 2022 Earnings Conference Call February 16, 2023 9:00 AM ET Company Participants Andrew Tamaccio – Investor Relations Neil H. Shah – President and Chief Executive Officer Ashish Parikh – Chief Financial Officer Conference Call Participants Bryan Maher – B.
Hersha Hospitality (HT) delivered FFO and revenue surprises of -5.56% and 1.57%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
"Scared Money Don't Make Money" - Bill Napier, Popular college football coach. Safe fixed-income is trading at deep discounts in this bear market.
Hersha Hospitality (HT) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).