Ashford Hospitality Trust, Inc. (AHT) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Ashford Hospitality Trust, Inc. (NYSE:AHT) from a hold rating to a sell rating in a research report report published on Friday.

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. FBR & Co downgraded Ashford Hospitality Trust from an outperform rating to a market perform rating and set a $8.00 target price on the stock. in a research report on Wednesday, January 4th. Cantor Fitzgerald reaffirmed an outperform rating and issued a $8.00 target price on shares of Ashford Hospitality Trust in a research report on Tuesday, February 28th. Canaccord Genuity reaffirmed a hold rating and issued a $7.00 target price (up previously from $6.50) on shares of Ashford Hospitality Trust in a research report on Friday, December 23rd. Finally, Robert W. Baird downgraded Ashford Hospitality Trust from an outperform rating to a neutral rating and upped their target price for the company from $7.00 to $8.00 in a research report on Wednesday, January 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $7.13.

Ashford Hospitality Trust (NYSE:AHT) traded down 3.19% during midday trading on Friday, reaching $6.06. The company’s stock had a trading volume of 426,479 shares. The company’s market capitalization is $584.04 million. Ashford Hospitality Trust has a 1-year low of $4.79 and a 1-year high of $8.23. The company’s 50-day moving average price is $7.08 and its 200-day moving average price is $6.82.

Ashford Hospitality Trust (NYSE:AHT) last released its quarterly earnings data on Thursday, February 23rd. The real estate investment trust reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by $0.29. The business earned $300 million during the quarter, compared to the consensus estimate of $345 million. Ashford Hospitality Trust had a negative net margin of 1.42% and a negative return on equity of 2.73%. Ashford Hospitality Trust’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. On average, analysts predict that Ashford Hospitality Trust will post ($0.79) earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 7.67%. The ex-dividend date is Wednesday, March 29th. Ashford Hospitality Trust’s payout ratio is -71.64%.

Several institutional investors have recently bought and sold shares of AHT. Bank of New York Mellon Corp increased its position in Ashford Hospitality Trust by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 1,082,158 shares of the real estate investment trust’s stock valued at $6,374,000 after buying an additional 2,826 shares during the last quarter. Renaissance Technologies LLC increased its position in Ashford Hospitality Trust by 26.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,853,300 shares of the real estate investment trust’s stock valued at $14,382,000 after buying an additional 385,300 shares during the last quarter. Global X Management Co. LLC purchased a new position in Ashford Hospitality Trust during the third quarter valued at approximately $7,530,000. Asset Management One Co. Ltd. increased its position in Ashford Hospitality Trust by 3.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 180,171 shares of the real estate investment trust’s stock valued at $1,378,000 after buying an additional 5,631 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Ashford Hospitality Trust by 5.9% in the third quarter. California Public Employees Retirement System now owns 523,844 shares of the real estate investment trust’s stock valued at $3,085,000 after buying an additional 29,000 shares during the last quarter. 71.57% of the stock is currently owned by institutional investors.

About Ashford Hospitality Trust

Ashford Hospitality Trust, Inc (Ashford), together with its subsidiaries, is an externally advised real estate investment trust (REIT). The Company operates through direct hotel investments segment. It is focused on investing in the hospitality industry with a focus on full-service upscale and upper-upscale hotels in the United States.

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