Ashford Hospitality Trust Inc. (AHT) Lowered to Sell at Zacks Investment Research
Ashford Hospitality Trust Inc. (NYSE:AHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Ashford Hospitality Trust Inc is a self advised Maryland corporation and real estate investment trust organized to pursue opportunities in the lodging industry. Initial assets consist of six hotels comprised of four Embassy Suites and two Radisson properties as well as eight asset management and consulting agreements. “
A number of other analysts also recently issued reports on AHT. Deutsche Bank AG reiterated a “buy” rating on shares of Ashford Hospitality Trust in a research report on Sunday, June 26th. Credit Suisse Group AG downgraded Ashford Hospitality Trust from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $6.00 to $5.00 in a research report on Thursday, July 21st. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Ashford Hospitality Trust in a research report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $6.72.
Ashford Hospitality Trust (NYSE:AHT) traded up 1.55% during mid-day trading on Monday, hitting $5.90. The stock had a trading volume of 316,331 shares. Ashford Hospitality Trust has a 52 week low of $4.15 and a 52 week high of $7.51. The company’s 50 day moving average price is $6.31 and its 200 day moving average price is $5.85. The firm’s market cap is $567.44 million.
Ashford Hospitality Trust (NYSE:AHT) last issued its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.06. The firm earned $410.70 million during the quarter, compared to the consensus estimate of $406.30 million. Ashford Hospitality Trust had a negative return on equity of 2.16% and a negative net margin of 1.17%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. Analysts anticipate that Ashford Hospitality Trust will post $1.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.48 dividend on an annualized basis and a yield of 8.26%. Ashford Hospitality Trust’s dividend payout ratio (DPR) is currently -85.71%.
In related news, Director Alan Tallis purchased 4,174 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were acquired at an average cost of $25.04 per share, with a total value of $104,516.96. Following the purchase, the director now directly owns 249,586 shares of the company’s stock, valued at $6,249,633.44. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 16.90% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in AHT. State Street Corp boosted its position in shares of Ashford Hospitality Trust by 1.3% in the second quarter. State Street Corp now owns 2,693,440 shares of the real estate investment trust’s stock worth $14,458,000 after buying an additional 34,747 shares during the period. Prudential Financial Inc. boosted its position in shares of Ashford Hospitality Trust by 5.6% in the second quarter. Prudential Financial Inc. now owns 2,491,897 shares of the real estate investment trust’s stock worth $13,382,000 after buying an additional 131,300 shares during the period. Glenmede Trust Co. NA boosted its position in shares of Ashford Hospitality Trust by 5.7% in the second quarter. Glenmede Trust Co. NA now owns 2,199,969 shares of the real estate investment trust’s stock worth $11,813,000 after buying an additional 118,243 shares during the period. BlackRock Fund Advisors boosted its position in shares of Ashford Hospitality Trust by 4.6% in the second quarter. BlackRock Fund Advisors now owns 2,050,894 shares of the real estate investment trust’s stock worth $11,013,000 after buying an additional 90,003 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Ashford Hospitality Trust by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,394,711 shares of the real estate investment trust’s stock worth $7,489,000 after buying an additional 33,383 shares during the period. 70.46% of the stock is currently owned by institutional investors and hedge funds.
About Ashford Hospitality Trust
Ashford Hospitality Trust, Inc (Ashford), together with its subsidiaries, is an externally advised real estate investment trust (REIT). The Company operates through direct hotel investments segment. It is focused on investing in the hospitality industry with a focus on full-service upscale and upper-upscale hotels in the United States.
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