Hersha Hospitality Trust, which has offices in Harrisburg and Philadelphia, on Tuesday reported first-quarter adjusted net income of $2.7 million, or 2 cents per diluted share, matching analyst estimates, according to Yahoo Finance.
The prior year quarter was $2.3 million, or 1 cent per share.
In March, Hersha acquired the five-diamond, 111-room Rittenhouse Hotel in downtown Philadelphia, adding to its portfolio of 66 properties in urban gateway markets nationwide. The deal was for $42 million, Hersha said.
The real estate investment trust in January assumed management of the historic Yorktowne Hotel in downtown York.
Shares of the Hersha stock are traded on the New York Stock Exchange under the ticker symbol HT.