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Stock Market & Financial Investment News

News Breaks
February 24, 2014
08:02 EDTHTHersha Hospitality to sell Hotel 373 in Manhattan for $37M
Hersha Hospitality Trust has entered into a definitive agreement to sell the Hotel 373 located in midtown Manhattan. The 70 room hotel is being sold to an offshore investment group for $37M, or approximately $529,000 per key. The sale price values the hotel at $1,680 per square foot, and on 2013 operating results represents an economic capitalization rate of 5.2% and a hotel EBITDA multiple of 17.3x. The transaction is expected to close during the second quarter of 2014, and is subject to customary closing conditions, including the completion of the buyer’s due diligence.
News For HT From The Last 14 Days
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April 27, 2015
17:03 EDTHTHersha Hospitality sees FY15 adj. FFO 56c-58c, consensus 56c
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17:01 EDTHTHersha Hospitality reports Q1 adj. FFO 7c, consensus 6c
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April 16, 2015
09:15 EDTHTEvercore ISI to hold a tour
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