BMO Capital analyst Ari Klein raised the firm’s price target on Hersha Hospitality to $10 from $7 and keeps a Market Perform rating on the shares after Hersha agreed to be acquired by KSL for $10 per share. With 16 lodging REITs and relatively small market caps, the lodging REIT sector “has long been viewed as ripe for consolidation,” says the analyst, who “cannot entirely rule out another bidder” for Hersha. However, the firm does not expect other lodging REITs to get involved, the analyst added.
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Read More on HT:
- Hersha Hospitality downgraded to Hold from Buy at Stifel
- Hersha Hospitality upgraded to Equal Weight from Underweight at Barclays
- Hersha Hospitality price target raised to $10 from $8 at Deutsche Bank
- Hersha Hospitality price target raised to $10 from $7 at BMO Capital
- Hersha Hospitality rises 56.3%
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