Ashford Hospitality Trust Inc (AHT) Upgraded to “Hold” by Zacks Investment Research
Ashford Hospitality Trust Inc (NYSE:AHT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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 have also recently weighed in on AHT. ValuEngine cut shares of Ashford Hospitality Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Cantor Fitzgerald cut their price objective on shares of Ashford Hospitality Trust from $8.00 to $7.50 and set a “buy” rating on the stock in a research note on Friday, August 11th. BidaskClub lowered Ashford Hospitality Trust from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Ashford Hospitality Trust in a report on Friday, May 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.46.
Ashford Hospitality Trust (NYSE AHT) remained flat at $6.24 during trading on Thursday. The company’s stock had a trading volume of 266,172 shares. The stock’s 50 day moving average price is $6.15 and its 200 day moving average price is $6.27. The company’s market cap is $607.96 million. Ashford Hospitality Trust has a 52 week low of $5.35 and a 52 week high of $8.23.
Ashford Hospitality Trust (NYSE:AHT) last issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by $0.03. Ashford Hospitality Trust had a negative net margin of 5.43% and a negative return on equity of 10.41%. The company had revenue of $390.70 million for the quarter, compared to the consensus estimate of $399.01 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Ashford Hospitality Trust’s revenue for the quarter was down 4.9% compared to the same quarter last year. Equities research analysts anticipate that Ashford Hospitality Trust will post ($1.04) earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in the stock. WFG Advisors LP grew its holdings in Ashford Hospitality Trust by 20.1% during the second quarter. WFG Advisors LP now owns 31,230 shares of the real estate investment trust’s stock worth $190,000 after acquiring an additional 5,230 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Ashford Hospitality Trust by 0.4% during the second quarter. Public Employees Retirement System of Ohio now owns 170,329 shares of the real estate investment trust’s stock worth $1,036,000 after acquiring an additional 674 shares during the period. Verition Fund Management LLC acquired a new position in Ashford Hospitality Trust during the second quarter worth about $148,000. The Manufacturers Life Insurance Company grew its holdings in Ashford Hospitality Trust by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 66,243 shares of the real estate investment trust’s stock worth $403,000 after acquiring an additional 4,434 shares during the period. Finally, State Street Corp grew its holdings in Ashford Hospitality Trust by 1.9% during the second quarter. State Street Corp now owns 2,821,019 shares of the real estate investment trust’s stock worth $17,152,000 after acquiring an additional 53,797 shares during the period. 70.27% of the stock is currently owned by hedge funds and other institutional investors.
About Ashford Hospitality Trust
Ashford Hospitality Trust, Inc is an externally-advised real estate investment trust (REIT). The Company is focused on investing in the hospitality industry with a focus on full-service upscale and upper-upscale hotels in the United States. The Company owns its lodging investments and conducts its business through Ashford Hospitality Limited Partnership (Ashford Trust OP), its operating partnership.
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