Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, May 2, 6:29 PM
Slide #547. 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 in institutional grade hotels in primary urban gateway markets including New York, Washington, District of Columbia, Boston, Philadelphia, South Florida and California. Co.'s portfolio consists of wholly-owned limited and full service properties, hotel owned via a consolidated joint venture, and interests in properties owned through joint venture investments. These properties are located in California, Connecticut, District of Columbia, Florida, Maryland, Massachusetts, New York and Pennsylvania and operate under various brands owned by Marriott International, Inc., Hilton Worldwide, Inc., and Hyatt Corporation.
Preferreds: HT.PRA, HT.PRB, HT.PRC, HT.PRD, HT.PRE
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