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Hersha Hospitality Trust, a real estate investment trust, engages in the ownership and operation of mid scale limited service hotels in the Eastern United States. As of June 30, 2005, it owned interests in 35 hotels, including 4 hotels owned through joint ventures in Pennsylvania, New York, New Jersey, Maryland, Georgia, Connecticut, and Massachusetts. The company has elected to be taxed as a REIT under the Internal Revenue Code. As a REIT, Hersha would not be subject to income tax to the extent it distributes at least 90% of its taxable income to its stockholders. The company was founded in 1998 and is headquartered in New Cumberland, Pennsylvania.
- W COMPANY SITE
- P 717-236-4400
- F 717-774-7383
Press Release $HT Hersha Hospitality Trust
PHILADELPHIA--(BUSINESS WIRE)-- Hersha Hospitality Trust (NYSE: HT), owner of upscale and mid-priced hotels in urban gateway markets, announced the tax classification of its Priority Class A Common Share (“Common Shares”), Series A Cumulative Redeemable Preferred Share (“Series A Preferred Shares”) and Series B Cumulative Redeemable Preferred Share (“Series B Preferred Shares”) distributions for 2012 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 own tax advisors as to the tax treatment of the distributions.
Cash Distribution
Per Share
Ordinary
Income*
Capital Gain Distribution
Sec. 1250 Gain
(Return of Capital)**
Cash Distribution
Per Share
Ordinary
Income*
Capital Gain Distribution
Sec. 1250 Gain
(Return of Capital)
100.00%
Cash Distribution
Per Share
Ordinary
Income*
Capital Gain Distribution
Sec. 1250 Gain
(Return of Capital)
Shareholders of Common Shares should note that the 2012 fourth quarter distribution, which had a record date of December 31, 2012 and was paid on January 15, 2013, will be reported and the taxable portion determined in 2013.
Shareholders of Series A Preferred Shares should note that the 2012 fourth quarter distribution, which had a record date of January 1, 2013 and was paid on January 15, 2013, will be reported and the taxable portion determined in 2013.
Shareholders of Series B Preferred Shares should note that the 2012 fourth quarter distribution, which had a record date of January 1, 2013 and was paid on January 15, 2013, will be reported and the taxable portion determined in 2013.
About Hersha Hospitality Trust
Hersha Hospitality Trust is a self-advised real estate investment trust, that owns 64 hotels in major urban gateway markets including New York, Washington, Boston, Philadelphia, Los Angeles and Miami totaling 9,221 rooms. HT follows a highly selective investment approach and leverages operational advantage through rigorous and sustainable asset management practices. For further information on the Company visit our 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 Annual Report on Form 10-K for the year ended December 31, 2011, filed with the U.S. Securities Exchange Commission on February 29, 2012 and other documents filed by the Company with the U.S. Securities Exchange Commission.
HERSHA HOSPITALITY TRUST
Michael Gillespie, Chief Accounting Officer, (717) 236-4400
Source: HERSHA HOSPITALITY TRUST