Hersha Hospitality: 2Q Earnings Snapshot
HARRISBURG, Pa. (AP) _ Hersha Hospitality Trust (HT) on Tuesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Harrisburg, Pennsylvania, said it had funds from operations of $36.9 million, or 86 cents per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 74 cents per share.
By Laura McCrystal, STAFF WRITER The concrete blocks went up months ago, framing the major addition that prominent hotel developer Jay H. Shah planned to add to his Wynnewood mansion. But Shah, CEO of Hersha Hospitality Trust, had failed to obtain any permits or other required township approvals for the addition - or for other unapproved work, including a backyard terrace, done in recent years. And his century-old home on Gypsy Lane is designated as a historic resource by Lower Merion Township,...
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