Hersha Hospitality Trust
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Real Estate : Equity Real Estate Investment Trusts (REITs) | Small Cap Value
Company profile

Hersha Hospitality Trust is a self-advised real estate investment trust (REIT). The Company invests primarily in institutional grade hotels in urban gateway markets, including New York, Washington, District of Columbia, Boston, Philadelphia, South Florida and select markets on the West Coast. As of December 31, 2017, the Company's hotels included 50 hotels totaling 7,725 rooms located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast. The Company’s properties operate under brands that include Marriott International, Hilton Hotels, Hyatt Hotels, Intercontinental Hotel Group, and Pan Pacific.

Closing Price
$4.70
Day's Change
-0.11 (-2.29%)
Bid
--
Ask
--
B/A Size
--
Day's High
4.76
Day's Low
4.54
Volume
(Light)
Volume:
318,193

10-day average volume:
781,512
318,193

UPDATE: Financial stocks rally was short lived after Fed rate cut

4:32 pm ET March 3, 2020 (MarketWatch)
Print

Financial stocks spiked higher in morning trading Tuesday, then quickly fell back down, after the Federal Reserve's surprise inter-meeting interest rate cut (http://www.marketwatch.com/story/fed-cuts-benchmark-rate-by-quarter-point-in-rare-inter-meeting-move-due-to-coronavirus-2020-03-03). The SPDR Financial Select Sector ETF (XLF) was down about 2.4% just before the rate cut, then soared to a gain of a much as 1.1% soon after. The rally didn't last long, as the ETF was now down 1.9%. Among the ETF's most-active components, shares of J.P. Morgan Chase & Co. (JPM) dropped 2.6%, Bank of America Corp. (BAC) slumped 2.9% and Citigroup Inc. (C) shed 1.3%. Those stocks were down as much as 3.0%, 2.9% and 2.8%, respectively, before the rate cut. The yield on the 10-year Treasury note reached an intraday high of 1.144% before the rate cut, but fell sharply after to 1.092%. Lower longer-term yields can hurt bank earnings, as it narrows the spread between what they earn on longer-term assets, such as loans, that are funded with short-term liabilities. The yield on the 10-year Treasury note

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

March 03, 2020 16:32 ET (21:32 GMT)

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