Ashford Hospitality Trust Inc. (AHT) Stock Rating Lowered by 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 note issued to 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 equities research analysts also recently weighed in on AHT. Deutsche Bank AG reaffirmed a “buy” rating on shares of Ashford Hospitality Trust in a report on Sunday, June 26th. Canaccord Genuity reiterated a “hold” rating on shares of Ashford Hospitality Trust in a research note on Monday, August 8th. Finally, Credit Suisse Group AG cut shares of Ashford Hospitality Trust from an “outperform” rating to a “neutral” rating and cut their target price for the company from $6.00 to $5.00 in a research note on Thursday, July 21st. 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 stock. The company has an average rating of “Hold” and an average price target of $6.72.
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Shares of Ashford Hospitality Trust (NYSE:AHT) traded up 1.635% during mid-day trading on Monday, hitting $5.905. The stock had a trading volume of 334,591 shares. The firm has a 50 day moving average of $6.31 and a 200 day moving average of $5.85. The stock’s market cap is $567.92 million. Ashford Hospitality Trust has a one year low of $4.15 and a one year high of $7.51.
Ashford Hospitality Trust (NYSE:AHT) last released its quarterly earnings data on Thursday, August 4th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The company had revenue of $410.70 million for 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 quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 earnings per share. On average, analysts forecast that Ashford Hospitality Trust will post $1.56 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 8.26%. The ex-dividend date of this dividend is Wednesday, September 28th. Ashford Hospitality Trust’s payout ratio is -85.71%.
In other Ashford Hospitality Trust news, Director Alan Tallis bought 4,174 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was bought at an average price of $25.04 per share, for a total transaction of $104,516.96. Following the transaction, the director now owns 249,586 shares of the company’s stock, valued at approximately $6,249,633.44. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 16.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Ashford Hospitality Trust by 0.3% in the first quarter. BlackRock Inc. now owns 87,951 shares of the real estate investment trust’s stock worth $561,000 after buying an additional 257 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Ashford Hospitality Trust by 1.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 62,867 shares of the real estate investment trust’s stock worth $401,000 after buying an additional 612 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Ashford Hospitality Trust by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 113,190 shares of the real estate investment trust’s stock worth $608,000 after buying an additional 1,033 shares during the last quarter. WFG Advisors LP raised its position in shares of Ashford Hospitality Trust by 9.8% in the second quarter. WFG Advisors LP now owns 22,500 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 2,000 shares during the last quarter. Finally, Wellington Shields Capital Management LLC raised its position in shares of Ashford Hospitality Trust by 11.5% in the second quarter. Wellington Shields Capital Management LLC now owns 20,415 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 2,098 shares during the last quarter. 70.46% of the stock is owned by institutional investors.
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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