PHILADELPHIA--(BUSINESS WIRE)--Hersha Hospitality Trust (NYSE: HT), owner of upscale, mid-scale and extended stay hotels in major metropolitan markets, announced the tax classification of its Priority Class A Common Share (“Common Shares”) and Series A Cumulative Redeemable Preferred Share (“Series A Preferred Shares”) distributions for 2010 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.
|
COMMON SHARES |
|||||||||||||||||||
| Record Dates | Paid Dates |
Total
Cash Distribution Per Share |
Taxable |
Total |
Unrecaptured
Sec. 1250 Gain |
Nontaxable |
|||||||||||||
| 1/4/2010 | 1/15/2010 | $ | 0.050 | $ | - | $ | - | $ | - | $ | 0.050000 | ||||||||
| 4/1/2010 | 4/15/2010 | $ | 0.050 | $ | - | $ | - | $ | - | $ | 0.050000 | ||||||||
| 6/30/2010 | 7/15/2010 | $ | 0.050 | $ | - | $ | - | $ | - | $ | 0.050000 | ||||||||
| 9/30/2010 | 10/15/2010 | $ | 0.050 | $ | - | $ | - | $ | - | $ | 0.050000 | ||||||||
| TOTAL | $ | 0.200 | $ | - | $ | - | $ | - | $ | 0.200000 | |||||||||
| Percent | 100.00 | % | N/A | N/A | N/A | 100.00 | % | ||||||||||||
| The CUSIP number for Hersha Hospitality Trust's Common Shares is 427825104. | |||||||||||||||||||
|
|
|||||||||||||||||||
|
SERIES A PREFERRED SHARES |
|||||||||||||||||||
| Record Dates | Paid Dates |
Total
Cash Distribution Per Share |
Taxable
Ordinary Income |
Total |
Unrecaptured
Sec. 1250 Gain |
Nontaxable |
|||||||||||||
| 1/1/2010 | 1/15/2010 | $ | 0.500 | $ | - | $ | - | $ | - | $ | 0.500000 | ||||||||
| 4/1/2010 | 4/15/2010 | $ | 0.500 | $ | - | $ | - | $ | - | $ | 0.500000 | ||||||||
| 7/1/2010 | 7/15/2010 | $ | 0.500 | $ | - | $ | - | $ | - | $ | 0.500000 | ||||||||
| 10/1/2010 | 10/15/2010 | $ | 0.500 | $ | - | $ | - | $ | - | $ | 0.500000 | ||||||||
| TOTAL | $ | 2.000 | $ | - | $ | - | $ | - | $ | 2.000000 | |||||||||
| Percent | 100.00 | % | N/A | N/A | N/A | 100.00 | % | ||||||||||||
| The CUSIP number for Hersha Hospitality Trust's Series A Preferred Shares is 427825203. | |||||||||||||||||||
|
* Distributions will reduce a shareholder's adjusted tax basis in its shares. Any distribution that exceeds a shareholder's adjusted tax basis in its shares will be treated as gain from the sale of those shares. |
Shareholders of Common Shares should note that the 2010 fourth quarter distribution, which had a record date of January 4, 2011 and was paid on January 17, 2011, will be reported and the taxable portion determined in 2011.
Shareholders of Series A Preferred Shares should note that the 2010 fourth quarter distribution, which had a record date of January 1, 2011 and was paid on January 17, 2011, will be reported and the taxable portion determined in 2011.
About Hersha Hospitality Trust
Hersha Hospitality Trust is a self-advised real estate investment trust, which owns interests in 77 hotels, totaling 10,262 rooms, primarily along the Northeast Corridor from Boston to Washington D.C., as of December 31, 2010. Hersha also owns hotels in Northern California and Scottsdale, Arizona. Hersha focuses on upscale, mid-scale and extended stay hotels in major metropolitan markets.
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, 2009, filed with the U.S. Securities Exchange Commission and the prospectus supplement and accompanying prospectus relating to the offering.