Ashford Hospitality Trust Inc (AHT) Releases Earnings Results, Beats Expectations By $0.60 EPS
Ashford Hospitality Trust Inc (NYSE:AHT) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.60, Bloomberg Earnings reports. The business had revenue of $353.33 million for the quarter, compared to analysts’ expectations of $360.10 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 quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Saturday, September 30th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 6.83%. The ex-dividend date of this dividend was Thursday, September 28th. Ashford Hospitality Trust’s dividend payout ratio is -35.82%.
A number of analysts have recently issued reports on the company. ValuEngine cut Ashford Hospitality Trust from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Zacks Investment Research cut Ashford Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Tuesday. Cantor Fitzgerald restated a “buy” rating and set a $7.50 price objective on shares of Ashford Hospitality Trust in a research report on Thursday, September 14th. Finally, BidaskClub cut Ashford Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.50.
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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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