Ashford Hospitality Trust, Inc. Declares Quarterly Dividend of $0.12 (AHT)
Ashford Hospitality Trust, Inc. (NYSE:AHT) announced a quarterly dividend on Monday, December 11th, Zacks reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.12 per share by the real estate investment trust on Tuesday, January 16th. This represents a $0.48 annualized dividend and a yield of 7.20%. The ex-dividend date of this dividend is Thursday, December 28th.
Ashford Hospitality Trust has increased its dividend by an average of 0.7% annually over the last three years. Ashford Hospitality Trust has a dividend payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ashford Hospitality Trust to earn $1.43 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 33.6%.
Shares of Ashford Hospitality Trust (NYSE:AHT) traded down $0.03 during mid-day trading on Tuesday, reaching $6.67. 451,500 shares of the company’s stock traded hands, compared to its average volume of 628,167. The company has a quick ratio of 3.94, a current ratio of 3.94 and a debt-to-equity ratio of 5.29. Ashford Hospitality Trust has a 12-month low of $5.68 and a 12-month high of $8.23. The firm has a market cap of $652.69, a price-to-earnings ratio of 5.15, a P/E/G ratio of 0.97 and a beta of 1.49.
Several brokerages have issued reports on AHT. Zacks Investment Research upgraded shares of Ashford Hospitality Trust from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a research note on Tuesday, October 10th. Cantor Fitzgerald restated a “buy” rating and set a $7.50 price objective on shares of Ashford Hospitality Trust in a research note on Tuesday, October 3rd. ValuEngine upgraded shares of Ashford Hospitality Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, September 13th. Finally, Robert W. Baird restated a “hold” rating and set a $7.00 price objective on shares of Ashford Hospitality Trust in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.42.
Ashford Hospitality Trust announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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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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