Ashford Hospitality Trust (AHT) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Ashford Hospitality Trust (NYSE:AHT) from a strong-buy rating to a hold rating in a research report report published on Monday, Zacks.com reports.

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. “

Separately, ValuEngine raised Ashford Hospitality Trust from a sell rating to a hold rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $7.67.

AHT opened at $5.42 on Monday. Ashford Hospitality Trust has a 1 year low of $3.85 and a 1 year high of $8.66. The company has a debt-to-equity ratio of 11.28, a quick ratio of 3.07 and a current ratio of 3.07. The stock has a market capitalization of $538.29 million, a price-to-earnings ratio of 4.32, a P/E/G ratio of 0.94 and a beta of 1.70.

Ashford Hospitality Trust (NYSE:AHT) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.74). Ashford Hospitality Trust had a negative net margin of 9.58% and a negative return on equity of 30.20%. The company had revenue of $358.72 million during the quarter, compared to analysts’ expectations of $353.87 million. Sell-side analysts predict that Ashford Hospitality Trust will post 1.11 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Ashford Hospitality Trust by 6.4% during the fourth quarter. BlackRock Inc. now owns 9,006,331 shares of the real estate investment trust’s stock worth $36,026,000 after purchasing an additional 544,053 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Ashford Hospitality Trust by 4.9% during the first quarter. Renaissance Technologies LLC now owns 6,843,925 shares of the real estate investment trust’s stock worth $32,509,000 after purchasing an additional 322,450 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Ashford Hospitality Trust by 16.3% during the first quarter. JPMorgan Chase & Co. now owns 2,793,439 shares of the real estate investment trust’s stock worth $13,269,000 after purchasing an additional 391,339 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Ashford Hospitality Trust by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,661,098 shares of the real estate investment trust’s stock worth $10,614,000 after purchasing an additional 11,008 shares during the period. Finally, Norges Bank acquired a new stake in shares of Ashford Hospitality Trust during the fourth quarter worth about $5,869,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

About Ashford Hospitality Trust

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing opportunistically in the hospitality industry in upper upscale, full-service hotels.

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