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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Wednesday, December 19, 5:05 AM

Slide #112. Hersha Hospitality Trust Preferred Stock Offering

Company: Hersha Hospitality Trust (NYSE:HT)
Date announced: 11/1/2016
Shares Offered: 4,000,000
Date of Pricing: 11/1/2016
Price Per Share: $25.00
Preferred Stock Offering Details: Hersha Hospitality Trust, a Maryland real estate investment trust ("Hersha"), today announced that it has priced a public offering of 4,000,000 shares of its 6.50% Series E cumulative redeemable preferred shares of beneficial interest, par value $.01 per share ($25.00 liquidation preference per share), for gross proceeds of $100,000,000. Hersha has granted the underwriters of the offering a 30-day option to purchase 600,000 additional Series E preferred shares. The offering is expected to close on November 7, 2016, subject to customary closing conditions. Hersha intends to use the net proceeds of the offering for general corporate purposes, including future acquisitions.

Hersha Hospitality Trust is a real estate investment trust. Co. invests primarily in institutional grade hotels in urban gateway markets including New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast. Co. owns a controlling general partnership interest in Hersha Hospitality Limited Partnership, which owns a real estate investment trust subsidiary, 44 New England Management Company, which leases certain of Co.'s hotels. Co. operates under brands owned by Marriott International, Inc., Hilton Worldwide, Inc., InterContinental Hotels Group, Hyatt Corporation, and Pan Pacific Hotels and Resorts. Also, some of Co.'s hotels operate as boutique hotels.

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


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Name:  Hersha Hospitality Trust
Website:  www.hersha.com
Sector:  REITs
Number of ETFs Holding HT:  36 (see which ones)
Total Market Value Held by ETFs:  $96,632,486
Total Market Capitalization:  $721,000,000
% of Market Cap. Held by ETFs:  13.40%
 

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