PHILADELPHIA, Sept. 19, 2022 (GLOBE NEWSWIRE) — Hersha Hospitality Trust (NYSE: HT) (“Hersha” or the “Company”), proprietor of luxurious and way of life lodges in coastal gateway and resort markets, as we speak introduced its Board of Trustees has accredited a money dividend of $0.05 per frequent share and per restricted partnership unit for the third quarter ending September 30, 2022. These frequent share dividends and restricted partnership unit distributions are payable October 17, 2022, to holders of document as of September 30, 2022.
The Board of Trustees additionally declared a money dividend of $0.4297 per Series C Preferred Share, $0.40625 per Series D Preferred Share, and $0.40625 per Series E Preferred Share for the third quarter ending September 30, 2022. The most well-liked share dividends are payable October 17, 2022, to holders of document as of October 1, 2022.
Mr. Jay H. Shah, Hersha’s Chief Executive Officer, acknowledged, “I am pleased to announce that our Board of Trustees has reinstated the Company’s quarterly cash dividend as a result of the continued strong performance of our portfolio and the transformative transactions we have completed this year. As we highlighted in our latest investor materials, our streamlined portfolio is operating at pre-COVID levels, and we have rightsized the balance sheet with our credit facility refinancing and proceeds from our recent strategic dispositions. This decision to resume our quarterly cash dividend on the common shares reflects our confidence in the ability of Hersha’s differentiated and experiential luxury and lifestyle portfolio, along with its unique New York City cluster, to continue its outperformance.”
The Board continues to observe and consider market situations and, if in the most effective pursuits of the Company, intends to declare a particular money dividend to holders of frequent shares and restricted partnership models within the fourth quarter of 2022, topic to the necessities of the Company’s qualification as an actual property funding belief.
Hersha Hospitality Trust (HT) is a self-advised actual property funding belief within the hospitality sector, which owns and operates luxurious and way of life lodges in coastal gateway and resort markets. The Company’s 30 lodges totaling 4,544 rooms are situated in New York, Washington, DC, Boston, Philadelphia, South Florida, and choose markets on the West Coast.
The Company’s frequent shares are traded on The New York Stock Exchange beneath the ticker “HT.” For extra info on the Company, and the Company’s lodge portfolio, please go to the Company’s web site at www.hersha.com.
Forward-Looking Statement
This press launch comprises forward-looking statements throughout the that means of the Private Securities Litigation Reform Act of 1995, and, as such, could contain recognized and unknown dangers, uncertainties and different components which will trigger the precise outcomes or efficiency to vary from these mirrored within the forward-looking assertion. Forward-looking statements are typically identifiable by use of forward-looking terminology akin to “believe,” “could,” “outlook,” “consider,” “expect,” “anticipate,” “forecast,” “project,” “likely,” “estimate,” “plan,” “continue,” “intend,” “should,” “may” and phrases of related import. Because these forward-looking statements relate to future occasions, the Company’s plans, methods, prospects and future monetary efficiency, and contain recognized and unknown dangers which are tough to foretell and could also be exterior the Company’s management, they don’t seem to be ensures of future outcomes and are topic to dangers, uncertainties and assumptions that would trigger precise outcomes to vary materially from these expressed in any forward-looking assertion. Therefore, you shouldn’t depend on any of these forward-looking statements. For an outline of components which will trigger the Company’s precise outcomes or efficiency to vary from its forward-looking statements, please evaluation the knowledge beneath the heading “Risk Factors” included within the Company’s most up-to-date Annual Report on Form 10-Ok and subsequent Quarterly Reports on Form 10-Q filed by the Company with the Securities and Exchange Commission (“SEC”) and different paperwork filed by the Company with the SEC every so often. All info supplied on this press launch, except in any other case acknowledged, is as of September 19, 2022, and the Company undertakes no obligation to replace this info except required by legislation.
| Contact: | Ashish Parikh, Chief Financial Officer | |
| Andrew Tamaccio, Director of Investor Relations & Finance | ||
| Phone: (215) 238-1046 |
