Ashford Hospitality Trust Inc (AHT) Lifted to Buy at Zacks Investment Research
Ashford Hospitality Trust Inc (NYSE:AHT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $7.75 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.16% from the company’s current price.
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. “
Several other equities analysts have also recently weighed in on AHT. ValuEngine cut Ashford Hospitality Trust from a “strong-buy” rating to a “buy” rating in a report on Monday, August 7th. Cantor Fitzgerald restated a “buy” rating and issued a $7.50 price objective on shares of Ashford Hospitality Trust in a report on Thursday, September 14th. Canaccord Genuity restated a “hold” rating and issued a $7.00 price objective on shares of Ashford Hospitality Trust in a report on Monday, June 26th. Finally, BidaskClub cut Ashford Hospitality Trust from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $7.50.
Shares of Ashford Hospitality Trust (AHT) traded up 0.29% on Tuesday, hitting $6.91. The stock had a trading volume of 465,363 shares. Ashford Hospitality Trust has a one year low of $5.35 and a one year high of $8.23. The company’s market capitalization is $673.24 million. The firm has a 50 day moving average price of $6.44 and a 200 day moving average price of $6.30.
Ashford Hospitality Trust (NYSE:AHT) last released its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.03). The firm had revenue of $390.70 million for the quarter, compared to the consensus estimate of $399.01 million. Ashford Hospitality Trust had a negative return on equity of 10.41% and a negative net margin of 5.43%. Ashford Hospitality Trust’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. On average, equities research analysts predict that Ashford Hospitality Trust will post ($1.10) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WFG Advisors LP raised its position in shares of Ashford Hospitality Trust by 20.1% in the second quarter. WFG Advisors LP now owns 31,230 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 5,230 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Ashford Hospitality Trust by 0.4% in the second quarter. Public Employees Retirement System of Ohio now owns 170,329 shares of the real estate investment trust’s stock valued at $1,036,000 after buying an additional 674 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Ashford Hospitality Trust in the second quarter valued at approximately $148,000. The Manufacturers Life Insurance Company raised its position in shares of Ashford Hospitality Trust by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 66,243 shares of the real estate investment trust’s stock valued at $403,000 after buying an additional 4,434 shares in the last quarter. Finally, State Street Corp raised its position in shares of Ashford Hospitality Trust by 1.9% in the second quarter. State Street Corp now owns 2,821,019 shares of the real estate investment trust’s stock valued at $17,152,000 after buying an additional 53,797 shares in the last quarter. Institutional investors own 70.24% of the company’s stock.
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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