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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sat, December 4, 3:09 AM

Slide #500. 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 primarily in institutional grade hotels in primary urban gateway markets including New York, Washington, District of Columbia, Boston, Philadelphia, South Florida and select markets on the West Coast. Co. owns its hotels and its investments in joint ventures through its operating partnership, Hersha Hospitality Limited Partnership, for which Co. serves as the sole general partner. The majority of Co.'s wholly-owned hotels are managed by Hersha Hospitality Management, L.P., a management company owned by other unaffiliated third party investors and in which certain of its trustees have a minority investment.

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: 
37 (see which ones)
Total Market Value Held by ETFs: 
$54,363,136.11
Total Market Capitalization: 
$347,000,000
% of Market Cap. Held by ETFs: 
15.67%
 

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