Hersha Hospitality Trust Announces Dividend Classification for 2021
Hersha Hospitality Trust (NYSE: HT) has announced the tax classification of its Series C, D, and E Cumulative Redeemable Preferred Shares distributions for 2021. The total cash distributions amounted to $3.0079 for Series C, $2.84375 for Series D, and $2.84375 for Series E shares. Taxable ordinary income is $0 for each series, with capital gain distributions and nontaxable distributions detailed in the release. Shareholders are advised to consult tax advisors regarding the tax implications of these distributions.
- Total cash distribution per share for Series C is $3.0079, for Series D is $2.84375, and for Series E is $2.84375, providing income for shareholders.
- Series C, D, and E distributions are fully classified as capital gains, which may be favorable for shareholders.
- None.
PHILADELPHIA, Jan. 21, 2022 (GLOBE NEWSWIRE) -- 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 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 2021 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.
| 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 | Section 897 Capital Gain | Section 1061 One-Year Capital Gain** | Section 1061 Three-Year Capital Gain** | |||||||||||||||||||||||
| 3/19/2021 | 3/26/2021 | $ | 1.718800 | $ | - | $ | 1.718800 | $ | 1.286282 | $ | - | $ | - | $ | 1.718800 | $ | - | $ | - | ||||||||||||||
| 4/1/2021 | 4/15/2021 | $ | 0.429700 | $ | - | $ | 0.429700 | $ | 0.321570 | $ | - | $ | - | $ | 0.429700 | $ | - | $ | - | ||||||||||||||
| 7/1/2021 | 7/15/2021 | $ | 0.429700 | $ | - | $ | 0.429700 | $ | 0.321570 | $ | - | $ | - | $ | 0.429700 | $ | - | $ | - | ||||||||||||||
| 10/1/2021 | 10/15/2021 | $ | 0.429700 | $ | - | $ | 0.429700 | $ | 0.321570 | $ | - | $ | - | $ | 0.429700 | $ | - | $ | - | ||||||||||||||
| TOTAL | $ | 3.007900 | $ | - | $ | 3.007900 | $ | 2.250992 | $ | - | $ | - | $ | 3.007900 | $ | - | $ | - | |||||||||||||||
| Percent | 100.00 | % | N/A | 100.00 | % | 74.84 | % | N/A | N/A | 100.00 | % | 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)* | Section 199A Dividends | Section 897 Capital Gain | Section 1061 One-Year Capital Gain** | Section 1061 Three-Year Capital Gain** | |||||||||||||||||||||||
| 3/19/2021 | 3/26/2021 | $ | 1.625000 | $ | - | $ | 1.625000 | $ | 1.216086 | $ | - | $ | - | $ | 1.625000 | $ | - | $ | - | ||||||||||||||
| 4/1/2021 | 4/15/2021 | $ | 0.406250 | $ | - | $ | 0.406250 | $ | 0.304021 | $ | - | $ | - | $ | 0.406250 | $ | - | $ | - | ||||||||||||||
| 7/1/2021 | 7/15/2021 | $ | 0.406250 | $ | - | $ | 0.406250 | $ | 0.304021 | $ | - | $ | - | $ | 0.406250 | $ | - | $ | - | ||||||||||||||
| 10/1/2021 | 10/15/2021 | $ | 0.406250 | $ | - | $ | 0.406250 | $ | 0.304021 | $ | - | $ | - | $ | 0.406250 | $ | - | $ | - | ||||||||||||||
| TOTAL | $ | 2.843750 | $ | - | $ | 2.843750 | $ | 2.128149 | $ | - | $ | - | $ | 2.843750 | $ | - | $ | - | |||||||||||||||
| Percent | 100.00 | % | N/A | 100.00 | % | 74.84 | % | N/A | N/A | 100.00 | % | 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)* | Section 199A Dividends | Section 897 Capital Gain | Section 1061 One-Year Capital Gain** | Section 1061 Three-Year Capital Gain** | |||||||||||||||||||||||
| 3/19/2021 | 3/26/2021 | $ | 1.625000 | $ | - | $ | 1.625000 | $ | 1.216086 | $ | - | $ | - | $ | 1.625000 | $ | - | $ | - | ||||||||||||||
| 4/1/2021 | 4/15/2021 | $ | 0.406250 | $ | - | $ | 0.406250 | $ | 0.304021 | $ | - | $ | - | $ | 0.406250 | $ | - | $ | - | ||||||||||||||
| 7/1/2021 | 7/15/2021 | $ | 0.406250 | $ | - | $ | 0.406250 | $ | 0.304021 | $ | - | $ | - | $ | 0.406250 | $ | - | $ | - | ||||||||||||||
| 10/1/2021 | 10/15/2021 | $ | 0.406250 | $ | - | $ | 0.406250 | $ | 0.304021 | $ | - | $ | - | $ | 0.406250 | $ | - | $ | - | ||||||||||||||
| TOTAL | $ | 2.843750 | $ | - | $ | 2.843750 | $ | 2.128149 | $ | - | $ | - | $ | 2.843750 | $ | - | $ | - | |||||||||||||||
| Percent | 100.00 | % | N/A | 100.00 | % | 74.84 | % | N/A | N/A | 100.00 | % | N/A | N/A | ||||||||||||||||||||
| 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. | |||||||||||||||||||||||||||||||||
| ** Additional Information Pursuant to Treasury Regulation §1.1061-6(c): The total Box 2a capital gain distributions are Section 1231 gains and therefore are not taken into account for purposes of section 1061 under Reg. 1.1061-4(b)(7)(i). | |||||||||||||||||||||||||||||||||
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high-quality hotels in urban gateway markets and regional resort destinations. The Company's 36 hotels totaling 5,802 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 that may cause the Company’s actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed by the Company with the Securities and Exchange Commission (“SEC”) and other documents filed by the Company with the SEC from time to time.
Contact: Michael Gillespie, Chief Accounting Officer
Phone: (717) 236-4400
FAQ
What are the 2021 distributions for Hersha Hospitality Trust's Series C Preferred Shares?
How much was paid for the Series D Preferred Shares in 2021?
What is the taxable income for shareholders of Series E Preferred Shares?
When were the distributions for Hersha's preferred shares paid in 2021?
What is the implication of the capital gain distributions for Hersha's preferred shares?
