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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., May. 30, 4:12 PM

Slide #9. Hersha Hospitality Trust Secondary 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
Secondary 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 2014, Co.'s portfolio consisted of 46 wholly owned limited and full service properties with a total of 6,587 rooms and interests in five limited and full service properties owned through joint venture investments with a total of 1,369 rooms. Co.'s properties operate under the Marriott International, Inc., Hilton Worldwide, Inc., InterContinental Hotels Group, Hyatt Corporation, or Starwood Hotels and Resorts Worldwide, Inc. brands.

HT SEC Filing Email Alerts Service

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

Open the HT Page at The Online Investor »

Company Name:  Hersha Hospitality Trust
Stock buyback:  HT buyback
Sector:  REITs
Number of ETFs Holding HT:  32
Total Market Value Held by ETFs:  $30.81M
Total Market Capitalization:  $775.00M
% of Market Cap. Held by ETFs:  3.98%

Open the HT Page at The Online Investor (in a new window) »

May 30, 2016    4:12 PM Eastern
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Hold (2.40 out of 4)
15th percentile
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