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By Ru Back Packer Staff, updated Sunday, January 28, 1:56 PM

Slide #127. Hersha Hospitality Trust Preferred Stock Offering

Company: Hersha Hospitality Trust (NYSE:HT)
Date announced: 5/24/2016
Shares Offered: 7,000,000
Date of Pricing: 5/24/2016
Price Per Share: $25.00
Preferred Stock Offering Details: Hersha Hospitality Trust, a Maryland real estate investment trust ("Hersha"), today announced that it has priced a public offering of 7,000,000 shares of its 6.50% Series D cumulative redeemable preferred shares of beneficial interest, par value $.01 per share ($25.00 liquidation preference per share), for gross proceeds of $175,000,000. Hersha has granted the underwriters of the offering a 30-day option to purchase 1,050,000 additional Series D preferred shares. The offering is expected to close on May 31, 2016, subject to customary closing conditions. Hersha intends to use a portion of the net proceeds of the offering for the redemption of all of Hersha's outstanding 8.00% Series B cumulative redeemable preferred shares of beneficial interest, par value $.01 per share ($25.00 liquidation preference per share) and the remainder for general corporate purposes, including future acquisitions.

Hersha Hospitality Trust is a real estate investment trust. Co. invests primarily in institutional grade hotels in key urban gateway markets including New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast. As of Dec 31 2016, Co.'s portfolio consisted of 43 wholly owned limited and full service properties with a total of 6,344 rooms and interests in 12 limited and full service properties owned through joint venture investments with a total of 2,456 rooms. Co. operates under brands, owned by Marriott International, Inc., Hilton Worldwide, Inc., InterContinental Hotels Group, Hyatt Corporation or Starwood Hotels and Resorts Worldwide, Inc.


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Name: Hersha Hospitality Trust
Sector: REITs
Number of ETFs Holding HT: 38 (see which ones)
Total Market Value Held by ETFs: $147,032,605
Total Market Capitalization: $784,000,000
% of Market Cap. Held by ETFs: 18.75%

Open the HT Page at Ru Back Packer (in a new window) »

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