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By Ru Back Packer Staff, updated Sunday, January 28, 10:08 AM

Slide #341. Hersha Hospitality Trust Preferred Stock Offering

Company: Hersha Hospitality Trust (NYSE:HT)
Date announced: 2/25/2013
Shares Offered: 3,000,000
Date of Pricing: 2/25/2013
Price Per Share: $25
Preferred Stock Offering Details: Hersha Hospitality Trust (NYSE:HT) today announced the commencement of a public offering of Series C cumulative redeemable preferred shares of beneficial interest, par value $.01 per share ($25.00 liquidation preference per share). Hersha intends to grant the underwriters of the offering a 30-day option to purchase additional Series C preferred shares solely to cover over-allotments, if any. Hersha intends to use the net proceeds of the offering for the redemption of all of Hersha's outstanding 8.00% Series A cumulative redeemable preferred shares of beneficial interest, par value $.01 per share ($25.00 liquidation preference per share). --updated 2/25/13 -Hersha Hospitality Trust (NYSE:HT) today announced that it has priced a public offering of 3,000,000 shares of its 6.875% Series C cumulative redeemable preferred shares of beneficial interest, par value $.01 per share ($25.00 liquidation preference per share), for gross proceeds of $75,000,000. Hersha intends to use the net proceeds of the offering for the redemption of all of Hersha's outstanding 8.00% Series A cumulative redeemable preferred shares of beneficial interest, par value $.01 per share ($25.00 liquidation preference per share).

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.

Preferreds: HT.PRA, HT.PRB, HT.PRC, HT.PRD, HT.PRE


Open the HT Page at Ru Back Packer »

Name: Hersha Hospitality Trust
Website: hersha.com
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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