Mine also says 250Lbs. However, when I called the factory to confirm I got a very confusing answer. The Heartland Rep indicated that they have had problems and were reducing the capacity on the current models to 150Lbs which would provide an extra margin of error.
When I replied with "Be careful of the weight; I was told by Heartland the the hitch is rated for 150Lbs" I was thinking you had a new MPG.