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Press Release

Hersha Hospitality Trust Announces Dividend Classification for 2019

Company Release - 1/21/2020 4:30 PM ET

PHILADELPHIA, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Hersha Hospitality Trust (NYSE: HT); (“Hersha” or “the Company”), owner of high-quality upscale, luxury and lifestyle hotels in urban gateway markets and resort destinations, today announced the tax classification of its Priority Class A Common Share (“Common Shares”), Series C Cumulative Redeemable Preferred Share (“Series C Preferred Shares”), Series D Cumulative Redeemable Preferred Share (“Series D Preferred Shares”) and Series E Cumulative Redeemable Preferred Share (“Series E Preferred Shares”) distributions for 2019 for Federal income tax reporting purposes.  The tax information provided below should not be construed as tax advice and is not a substitute for careful tax planning and analysis.  Shareholders should consult their tax advisors as to the tax treatment of the distributions.

               
CLASS A COMMON SHARES 
Record
Dates
 Paid Dates Total
Cash Distribution
Per Share
 Taxable
Ordinary
Income
 Total
Capital Gain
Distribution
 Unrecaptured
Sec. 1250 Gain
 Nontaxable
Distribution
(Return of Capital)*
 Section 199A
Dividends
               
1/5/2019 1/15/2019 $0.2800  $0.092485  $ $ $0.187515  $0.092485 
3/29/2019 4/15/2019 $0.2800  $0.092485  $ $ $0.187515  $0.092485 
6/28/2019 7/15/2019 $0.2800  $0.092485  $ $ $0.187515  $0.092485 
9/30/2019 10/15/2019 $0.2800  $0.092485  $ $ $0.187515  $0.092485 
TOTAL   $1.1200  $0.369940  $ $ $0.750060  $0.369940 
Percent    100.00%   33.03%  N/A N/A  66.97%   33.03% 
               
The CUSIP number for Hersha Hospitality Trust's Common Shares is 427825500.  
               
               
SERIES C PREFERRED SHARES 
Record
Dates
 Paid Dates Total
Cash Distribution
Per Share
 Taxable
Ordinary
Income
 Total
Capital Gain
Distribution
 Unrecaptured
Sec. 1250 Gain
 Nontaxable
Distribution
(Return of Capital)*
 Section 199A
Dividends
               
1/1/2019 1/15/2019 $0.4297  $0.4297  $ $ $  $0.4297 
4/1/2019 4/15/2019 $0.4297  $0.4297  $ $ $ -   $0.4297 
7/1/2019 7/15/2019 $0.4297  $0.4297  $ $ $  $0.4297 
10/1/2019 10/15/2019 $0.4297  $0.4297  $ $ $  $0.4297 
TOTAL   $1.7188  $1.7188  $ $ $  $1.718800 
Percent    100.00%   100.00%  N/A N/A N/A  100.00% 
               
The CUSIP number for Hersha Hospitality Trust's Series C Preferred Shares is 427825401      
               
               
SERIES D PREFERRED SHARES 
Record
Dates
 Paid Dates Total
Cash Distribution
Per Share
 Taxable
Ordinary
Income
 Total
Capital Gain
Distribution
 Unrecaptured
Sec. 1250 Gain
 Nontaxable
Distribution
(Return of Capital)*
 Section 199A
Dividends
               
1/1/2019 1/15/2019 $0.4063  $0.4063  $ $ $  $0.4063 
4/1/2019 4/15/2019 $0.4063  $0.4063  $ $ $  $0.4063 
7/1/2019 7/15/2019 $0.4063  $0.4063  $ $ $  $0.4063 
10/1/2019 10/15/2019 $0.4063  $0.4063  $ $ $  $0.4063 
TOTAL   $1.6250  $1.6250  $ $ $  $1.625000 
Percent    100.00%   100.00%  N/A N/A N/A  100.00% 
               
The CUSIP number for Hersha Hospitality Trust's Series D Preferred Shares is 427825609      
               
               
SERIES E PREFERRED SHARES 
Record
Dates
 Paid Dates Total
Cash Distribution
Per Share
 Taxable
Ordinary
Income
 Total
Capital Gain
Distribution
 Unrecaptured
Sec. 1250 Gain
 Nontaxable
Distribution
(Return of Capital)*
 Section 199A
Dividends
               
1/1/2019 1/15/2019 $0.4063  $0.4063  $ $ $  $0.4063 
4/1/2019 4/15/2019 $0.4063  $0.4063  $ $ $  $0.4063 
7/1/2019 7/15/2019 $0.4063  $0.4063  $ $ $  $0.4063 
10/1/2019 10/15/2019 $0.4063  $0.4063  $ $ $  $0.4063 
TOTAL   $1.6250  $1.6250  $ $ $  $1.625000 
Percent    100.00%   100.00%  N/A N/A N/A  100.00% 
               
The CUSIP number for Hersha Hospitality Trust's Series E Preferred Shares is 427825708      
               
* Distributions will reduce a shareholder's adjusted tax basis in its shares. Any amount of the distribution that exceeds a shareholder's adjusted tax basis in its shares will be treated as gain from the sale or exchange of property.  
   

Shareholders of Class A Common Shares should note that the 2019 fourth quarter distribution, which had a record date of January 3, 2020 and was paid on January 15, 2020, will be reported and the taxable portion determined for tax year 2020.

Shareholders of Series C, Series D and Series E Preferred Shares should note that the 2019 fourth quarter distribution, which had a record date of January 1, 2020 and was paid on January 15, 2020, will be reported and the taxable portion determined for tax year 2020.

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale, luxury and lifestyle hotels in urban gateway markets and resort destinations. The Company's 48 hotels totaling 7,644 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast. The Company's common shares are traded on The New York Stock Exchange under the ticker “HT”.  For more information on the Company, and the Company’s hotel portfolio, please visit the Company’s website at www.hersha.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those reflected in the forward-looking statement.

For a description of these factors, please review the information under the heading “Risk Factors” included in Hersha Hospitality Trust’s filings with the U.S. Securities and Exchange Commission Annual Report on Form 10-K for the year ended December 31, 2018 and subsequent reports filed by the Company with the Securities and Exchange Commission from time to time.

Contact:  Michael Gillespie, Chief Accounting Officer
Phone: (717) 236-4400

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Source: Hersha Hospitality Trust