Ashford Hospitality Trust (AHT) Upgraded to “Hold” by Zacks Investment Research
Ashford Hospitality Trust (NYSE:AHT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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 the stock. ValuEngine raised shares of Ashford Hospitality Trust from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Robert W. Baird reaffirmed a “hold” rating and set a $7.00 price target on shares of Ashford Hospitality Trust in a research note on Friday, November 10th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $7.50 price target on shares of Ashford Hospitality Trust in a research note on Tuesday, October 3rd. Finally, B. Riley reaffirmed a “buy” rating on shares of Ashford Hospitality Trust in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $7.42.
Ashford Hospitality Trust (NYSE:AHT) last announced its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The company had revenue of $353.33 million for the quarter, compared to analyst estimates of $360.10 million. Ashford Hospitality Trust had a negative return on equity of 10.79% and a negative net margin of 5.61%. The business’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. sell-side analysts forecast that Ashford Hospitality Trust will post 1.37 earnings per share for the current year.
Ashford Hospitality Trust declared that its board has authorized a stock repurchase plan on Monday, December 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
Several large investors have recently added to or reduced their stakes in AHT. Schwab Charles Investment Management Inc. grew its stake in shares of Ashford Hospitality Trust by 30.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,301,506 shares of the real estate investment trust’s stock valued at $7,914,000 after buying an additional 302,950 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Ashford Hospitality Trust by 6.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 867,559 shares of the real estate investment trust’s stock valued at $5,275,000 after purchasing an additional 53,201 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Ashford Hospitality Trust by 2.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 44,198 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 1,258 shares during the last quarter. American Century Companies Inc. acquired a new stake in Ashford Hospitality Trust during the 2nd quarter valued at $365,000. Finally, Wells Fargo & Company MN lifted its holdings in Ashford Hospitality Trust by 3.1% during the 2nd quarter. Wells Fargo & Company MN now owns 965,151 shares of the real estate investment trust’s stock valued at $5,869,000 after purchasing an additional 29,291 shares during the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.
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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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