Equity Fund Buys Hersha Hospitality Trust: Hotel REITs Go Wild
Portfolio Pulse from Ethan Roberts
Hersha Hospitality Trust (HT) announced a merger with KSL Capital Partners, with KSL acquiring all outstanding common shares of Hersha for $10 per share in an all-cash transaction of $1.4 billion. This is a 60% premium over Hersha's closing price on Aug. 25. The news triggered buying on several other hotel REITs, including Braemar Hotels & Resorts (BHR), Ashford Hospitality Trust (AHT), and Chatham Lodging Trust (CLDT). Other Hotel REITs with notable sympathy price changes were Summit Hotel Properties (INN), Xenia Hotels & Resorts (XHR), and Diamondrock Hospitality (DRH).
August 30, 2023 | 10:00 am
News sentiment analysis
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POSITIVE IMPACT
Ashford Hospitality Trust's stock rose following the announcement of Hersha's merger.
The news of Hersha's merger caused a rise in Ashford's stock price, indicating a positive impact.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
Braemar Hotels & Resorts saw its stock rise in response to the news of Hersha's merger.
The news of Hersha's merger caused a rise in Braemar's stock price, indicating a positive impact.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
Chatham Lodging Trust's stock rose in response to the news of Hersha's merger.
The news of Hersha's merger caused a rise in Chatham's stock price, indicating a positive impact.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
Diamondrock Hospitality's stock rose in response to the news of Hersha's merger.
The news of Hersha's merger caused a rise in Diamondrock's stock price, indicating a positive impact.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
Hersha Hospitality Trust is merging with KSL Capital Partners, causing its stock to rise significantly.
The merger announcement caused Hersha's stock to rise significantly, indicating a positive impact on the company's stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Summit Hotel Properties' stock rose in response to the news of Hersha's merger.
The news of Hersha's merger caused a rise in Summit's stock price, indicating a positive impact.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
Xenia Hotels & Resorts' stock rose in response to the news of Hersha's merger.
The news of Hersha's merger caused a rise in Xenia's stock price, indicating a positive impact.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 75