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BUY HT-D PREFERRED (HTPRD AT FIDELITY)

November 5, 2019. We are seeing a pullback on Hersha Hospitality, right now at $24.50. Keep in mind that Hersha is in the high quality hotel segment which is doing fine in contrast to the ‘budget’ chains. The price could go a little lower but we are buyers in this range. BUY

BUSINESS:  Hersha Hospitality Trust is a self-advised real estate investment trust (REIT) in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets. Hersha’s hotels are primarily located in the central business districts and dense metropolitan centers of New York City, Boston, Washington, DC, Philadelphia, Miami and select markets on the West Coast.

Hersha Hospitality Trust, 6.50% Series D Cumulative Redeemable Preferred Shares
Ticker Symbol: HT-D     CUSIP: 427825609     Exchange: NYSE Security Type:   Traditional Preferred Stock

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Hersha Hospitality Trust, 6.50% Series D Cumulative Redeemable Preferred Shares, liquidation preference $25 per share, redeemable at the issuer’s option on or after 5/31/2021 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.50% per annum ($1.625 per annum or $0.40625 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be the first day of the calendar month in which the payment date is due or on the date fixed by the board, not more than 30 days or less than 10 days prior to the payment date

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