Ashford Hospitality Trust, Inc. (NYSE:AHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
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 have also recently weighed in on the stock. FBR & Co cut shares of Ashford Hospitality Trust from an “outperform” rating to a “market perform” rating and set a $8.00 target price for the company. in a report on Wednesday, January 4th. Robert W. Baird cut shares of Ashford Hospitality Trust from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $7.00 to $8.00 in a report on Wednesday, January 11th. Canaccord Genuity restated a “hold” rating and set a $7.50 target price on shares of Ashford Hospitality Trust in a report on Wednesday, January 11th. Finally, Cantor Fitzgerald restated an “outperform” rating and set a $8.00 target price on shares of Ashford Hospitality Trust in a report on Tuesday, February 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Ashford Hospitality Trust presently has an average rating of “Hold” and a consensus price target of $7.13.
Shares of Ashford Hospitality Trust (NYSE:AHT) opened at 6.05 on Friday. The stock’s 50 day moving average is $7.08 and its 200 day moving average is $6.82. Ashford Hospitality Trust has a 52 week low of $4.79 and a 52 week high of $8.23. The stock’s market capitalization is $583.07 million.
Ashford Hospitality Trust (NYSE:AHT) last issued its earnings results on Thursday, February 23rd. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by $0.29. The business had revenue of $300 million for the quarter, compared to the consensus estimate of $345 million. Ashford Hospitality Trust had a negative return on equity of 2.73% and a negative net margin of 1.42%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 earnings per share. Analysts anticipate that Ashford Hospitality Trust will post ($0.79) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be given a $0.12 dividend. The ex-dividend date is Wednesday, March 29th. This represents a $0.48 annualized dividend and a dividend yield of 7.93%. Ashford Hospitality Trust’s dividend payout ratio (DPR) is presently -71.64%.
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Several large investors have recently modified their holdings of the stock. Global X Management Co. LLC purchased a new stake in shares of Ashford Hospitality Trust during the third quarter valued at approximately $7,530,000. Norges Bank purchased a new stake in shares of Ashford Hospitality Trust during the fourth quarter valued at approximately $7,308,000. Renaissance Technologies LLC increased its stake in shares of Ashford Hospitality Trust by 26.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,853,300 shares of the real estate investment trust’s stock valued at $14,382,000 after buying an additional 385,300 shares during the period. Matarin Capital Management LLC purchased a new stake in shares of Ashford Hospitality Trust during the third quarter valued at approximately $1,881,000. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Ashford Hospitality Trust during the third quarter valued at approximately $1,352,000. Institutional investors and hedge funds own 71.57% of the company’s stock.
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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