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PHILADELPHIA, Jan. 22, 2018 -- Hersha Hospitality Trust (NYSE:HT); (“Hersha” or “the Company”), owner of high quality upscale hotels in urban gateway markets and coastal 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 2017 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.
| 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)** | |||||||||||||||
| 1/5/2017 | 1/17/2017 | $ | 0.4800 | $ | 0.340569 | $ | - | $ | - | $ | 0.139431 | ||||||||||
| 3/31/2017 | 4/17/2017 | $ | 0.2800 | $ | 0.198665 | $ | - | $ | - | $ | 0.081335 | ||||||||||
| 6/30/2017 | 7/17/2017 | $ | 0.2800 | $ | 0.198665 | $ | - | $ | - | $ | 0.081335 | ||||||||||
| 9/29/2017 | 10/13/2017 | $ | 0.2800 | $ | 0.198665 | $ | - | $ | - | $ | 0.081335 | ||||||||||
| TOTAL | $ | 1.3200 | $ | 0.936564 | $ | - | $ | - | $ | 0.383436 | |||||||||||
| Percent | 100.00% | 70.95% | N/A | N/A | 29.05% | ||||||||||||||||
| 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) | |||||||||||||||
| 1/1/2017 | 1/17/2017 | $ | 0.4297 | $ | 0.4297 | $ | - | $ | - | $ | - | ||||||||||
| 4/1/2017 | 4/17/2017 | $ | 0.4297 | $ | 0.4297 | $ | - | $ | - | $ | - | ||||||||||
| 7/1/2017 | 7/17/2017 | $ | 0.4297 | $ | 0.4297 | $ | - | $ | - | $ | - | ||||||||||
| 10/1/2017 | 10/16/2017 | $ | 0.4297 | $ | 0.4297 | $ | - | $ | - | $ | - | ||||||||||
| TOTAL | $ | 1.7188 | $ | 1.7188 | $ | - | $ | - | $ | - | |||||||||||
| Percent | 100.00% | 100.00% | N/A | N/A | N/A | ||||||||||||||||
| 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) | |||||||||||||||
| 1/1/2017 | 1/17/2017 | $ | 0.4063 | $ | 0.4063 | $ | - | $ | - | $ | - | ||||||||||
| 4/1/2017 | 4/17/2017 | $ | 0.4063 | $ | 0.4063 | ||||||||||||||||
| 7/1/2017 | 7/17/2017 | $ | 0.4063 | $ | 0.4063 | ||||||||||||||||
| 10/1/2017 | 10/16/2017 | $ | 0.4063 | $ | 0.4063 | $ | - | $ | - | $ | - | ||||||||||
| TOTAL | $ | 1.6250 | $ | 1.6250 | $ | - | $ | - | $ | - | |||||||||||
| Percent | 100.00% | 100.00% | N/A | N/A | N/A | ||||||||||||||||
| 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) | |||||||||||||||
| 1/1/2017 | 1/17/2017 | $ | 0.3069 | $ | 0.3069 | $ | - | $ | - | $ | - | ||||||||||
| 4/1/2017 | 4/17/2017 | $ | 0.4063 | $ | 0.4063 | ||||||||||||||||
| 7/1/2017 | 7/17/2017 | $ | 0.4063 | $ | 0.4063 | ||||||||||||||||
| 10/1/2017 | 10/16/2017 | $ | 0.4063 | $ | 0.4063 | $ | - | $ | - | $ | - | ||||||||||
| TOTAL | $ | 1.5257 | $ | 1.5257 | $ | - | $ | - | $ | - | |||||||||||
| Percent | 100.00% | 100.00% | N/A | N/A | N/A | ||||||||||||||||
| The CUSIP number for Hersha Hospitality Trust's Series E Preferred Shares is 427825708 | |||||||||||||||||||||
| * For Federal income tax reporting purposes, a portion (10.8666%) of Hersha Hospitality Trust's ordinary income dividends are treated as qualified dividend income. | |||||||||||||||||||||
| ** 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 Common Shares should note that the 2017 fourth quarter distribution, which had a record date of January 5, 2018 and was paid on January 16, 2018, will be reported and the taxable portion determined in 2018.
Shareholders of Series C, Series D and Series E Preferred Shares should note that the 2017 fourth quarter distribution, which had a record date of January 1, 2018 and was paid on January 16, 2018, will be reported and the taxable portion determined in 2018.
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets and coastal destinations. The Company’s 50 hotels totaling 7,724 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-Euronext 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, 2016 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
