Zacks Investment Research upgraded shares of Ashford Hospitality Trust Inc (NYSE:AHT) from a hold rating to a buy rating in a report issued on Tuesday morning. The brokerage currently has $7.75 target price on the real estate investment trust’s stock.
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. “
AHT has been the topic of several other research reports. ValuEngine cut shares of Ashford Hospitality Trust from a strong-buy rating to a buy rating in a research report on Monday, August 7th. BidaskClub cut shares of Ashford Hospitality Trust from a hold rating to a sell rating in a research report on Friday, July 28th. Cantor Fitzgerald reduced 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 report on Friday, August 11th. Finally, Canaccord Genuity reiterated a hold rating and set a $7.00 price objective on shares of Ashford Hospitality Trust in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $7.50.
Ashford Hospitality Trust (NYSE AHT) opened at 7.10 on Tuesday. Ashford Hospitality Trust has a one year low of $5.35 and a one year high of $8.23. The company’s market cap is $691.75 million. The stock has a 50 day moving average of $6.49 and a 200-day moving average of $6.31.
Ashford Hospitality Trust (NYSE:AHT) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $390.70 million for the quarter, compared to the consensus estimate of $399.01 million. Ashford Hospitality Trust had a negative net margin of 5.43% and a negative return on equity of 10.41%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. On average, equities analysts predict that Ashford Hospitality Trust will post ($1.10) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 6.76%. The ex-dividend date of this dividend is Thursday, September 28th. Ashford Hospitality Trust’s dividend payout ratio is presently -35.82%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. WFG Advisors LP increased its position in 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 worth $190,000 after purchasing an additional 5,230 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in 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 worth $1,036,000 after purchasing an additional 674 shares during the last quarter. Verition Fund Management LLC bought a new stake in Ashford Hospitality Trust in the second quarter worth $148,000. The Manufacturers Life Insurance Company increased its position in 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 worth $403,000 after purchasing an additional 4,434 shares during the last quarter. Finally, State Street Corp increased its position in 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 worth $17,152,000 after purchasing an additional 53,797 shares during the last quarter. Institutional investors own 70.24% of the company’s stock.
Ashford Hospitality Trust Company Profile
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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