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Ashford Hospitality Trust, Inc. - AHT STOCK NEWS

Welcome to our dedicated page for Ashford Hospitality Trust news (Ticker: AHT), a resource for investors and traders seeking the latest updates and insights on Ashford Hospitality Trust stock.

Ashford Hospitality Trust, Inc. (NYSE: AHT) is a self-advised real estate investment trust (REIT) specializing in the hospitality sector. Established in 2003, Ashford's strategy focuses on investing opportunistically in upper upscale, full-service hotels across the United States. The company operates through its subsidiary, Ashford Hospitality Limited Partnership, and holds its lodging investments under brands like Marriott, Hilton, Hyatt, Crowne Plaza, and Sheraton.

The company's core investments include direct real estate acquisitions, securities, equity, and debt, targeting assets expected to generate revenue per available room (RevPAR) below twice the national average. Ashford's revenue streams are primarily derived from room revenue, food and beverage sales, and other ancillary services.

Recently, Ashford has been actively managing its portfolio to improve financial stability and reduce debt. The company announced the sale of multiple hotel properties, including the Hilton Boston Back Bay and Courtyard Manchester, generating significant proceeds for debt reduction. In addition, Ashford has undertaken refinancing efforts, such as the recent loan secured for the Renaissance Hotel in Nashville, Tennessee, to enhance liquidity and financial flexibility.

Ashford's leadership is also experiencing changes, with Rob Hays stepping down as CEO and Stephen Zsigray taking over. This transition aims to bring fresh perspectives and continue the company's growth trajectory.

Committed to maintaining a high-quality, geographically diverse portfolio, Ashford is well-positioned to benefit from increasing corporate and group travel demand. The company's ongoing deleveraging plan and strategic asset sales are expected to strengthen its financial health and support future growth initiatives.

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Ashford Hospitality Trust (NYSE: AHT) has announced the dates for its third quarter 2024 earnings release and conference call. The company plans to release its Q3 results after market close on Tuesday, November 5, 2024. A conference call will follow on Wednesday, November 6, 2024, at 11:00 a.m. ET.

Investors can join the interactive teleconference by calling (646) 307-1963. A replay will be available until November 13, 2024, by dialing (609) 800-9909 with confirmation number 4669395. Additionally, a live broadcast of the call will be accessible on the company's website, www.ahtreit.com, with an online replay available for approximately one year.

Ashford Hospitality Trust is a real estate investment trust (REIT) that primarily invests in upper upscale, full-service hotels.

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Ashford Inc. announced the passing of W. Michael Murphy, a member of its Board of Directors, on July 24, 2024. Murphy, a distinguished hotel industry veteran, had served on Ashford Inc.'s board since August 2018. His extensive experience included board positions at Braemar Hotels & Resorts (NYSE: BHR) from 2013 to 2015 and Ashford Hospitality Trust (NYSE: AHT) from 2003 to 2013.

Monty J. Bennett, Ashford Inc.'s Chairman and CEO, expressed deep sadness at Murphy's passing, acknowledging his value as both a friend and business leader. The company extended condolences to Murphy's family on behalf of the directors, management, and the entire Ashford Group of Companies.

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Ashford Hospitality Trust (NYSE: AHT) announced preferred dividends for the third quarter of 2024. The Series D Cumulative Preferred Stock will receive $0.5281 per share, Series F and G Cumulative Preferred Stock will receive $0.4609 per share, and Series H and I Cumulative Preferred Stock will receive $0.46875 per share. These dividends are payable on October 15, 2024, for stockholders on record as of September 30, 2024.

The Series J Redeemable Preferred Stock will receive $0.16667 per share, and Series K Redeemable Preferred Stock will have varying dividends of $0.17292 and $0.17083 per share, paid monthly from August to October 2024. As of June 30, 2024, there are 5,206,397 Series J and 357,933 Series K shares outstanding.

Ashford Trust is a REIT focused on investing in upper upscale, full-service hotels.

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Ashford Hospitality Trust (NYSE: AHT) has announced its preliminary results for Q2 2024. The company reported an occupancy rate of approximately 75%, with an average daily rate (ADR) of $200, resulting in a Revenue Per Available Room (RevPAR) of $150. This marks a 1.4% increase in comparable RevPAR compared to Q2 2023. April 2024 saw a 3.0% increase in comparable RevPAR year-over-year, May 2024 had a 1.4% rise, while June 2024 experienced a slight 0.1% dip. Additionally, Ashford Trust has raised $139 million through the issuance of 5,206,397 shares of its Series J and 357,933 shares of its Series K non-traded preferred stock.

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Ashford Hospitality Trust (NYSE: AHT) announced the closure of the sale of One Ocean Resort in Atlantic Beach, Florida.

The sale, which included 193 rooms, will contribute to debt reduction and general corporate purposes. This transaction has lowered the company's net debt to gross assets ratio to 66%, a 400 basis point decrease from earlier this year.

Following this sale, the balance on Ashford's strategic financing stands at $98 million. Additionally, the company has generated $139 million in gross proceeds from the sale of non-traded preferred stock.

Ashford continues to market additional assets at various sales stages.

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Ashford Hospitality Trust (NYSE: AHT) announced it will release its second-quarter financial results on Tuesday, July 30, 2024, after market close.

A conference call to discuss the results will be held on Wednesday, July 31, 2024, at 11:00 a.m. ET. The call can be accessed by dialing (646) 968-2525, and a replay will be available until August 7, 2024, by dialing (609) 800-9909 with confirmation number 9895209.

The live broadcast and replay of the call will also be available on the company's website, www.ahtreit.com. Ashford Trust primarily invests in upper upscale, full-service hotels.

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Ashford Hospitality Trust (AHT) has announced the sale of two select-service hotels, the 90-room SpringHill Suites and the 86-room Fairfield Inn in Kennesaw, Georgia, for $17.5 million.

The sale price reflects a 4.8% capitalization rate on the trailing 12-month net operating income through April 2024. The properties were carrying a mortgage loan with an outstanding balance of roughly $10.8 million.

Proceeds from the sale will be used for general corporate purposes, including the pay down of strategic financing.

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Ashford Hospitality Trust (NYSE: AHT) has appointed Dave Johnson, an experienced hospitality and real estate executive, to its Board of Directors. Johnson will also serve on the Audit and Compensation Committees. Johnson is the Co-Founder and Managing Director of Horizon Capital Partners and previously founded Aimbridge Hospitality, where he was CEO from 2003 to 2021. He has extensive experience in senior roles at Wyndham International and currently serves on various boards, including Hilton Grand Vacations and Sonida Senior Living. Ashford Trust's Chairman, Monty J. Bennett, emphasized Johnson's valuable experience and perspective, which is expected to contribute significantly to the company's strategy and shareholder value.

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Ashford Hospitality Trust (NYSE: AHT) announced the sale of the 90-room Courtyard in Manchester, Connecticut for $8.0 million. The sale helps reduce the company's debt, with the property having a mortgage loan balance of $5.6 million. Additionally, Ashford has agreed to sell the 193-room One Ocean Resort in Atlantic Beach, Florida for $87.0 million, expected to close in June, pending normal closing conditions. Proceeds from both sales will be used for general corporate purposes, including paying down the company's $102 million strategic financing. Ashford's President and CEO, Rob Hays, highlighted the progress in the company's deleveraging plan and mentioned ongoing asset sales in the market.

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Ashford Hospitality Trust (AHT) announced preliminary results from its 2024 Annual Meeting of Stockholders, revealing that Blackwells Capital's proxy campaign had minimal impact, with only 7% of shares voting in favor. Seven nominees, including Amish Gupta and J. Robison Hays, III, were elected to the Board. Despite ISS recommendations, Monty J. Bennett and Kamal Jafarnia did not secure majority votes but will remain on the Board following the Nominating and Corporate Governance Committee's decision. Stockholders approved the executive compensation resolution and ratified BDO USA, P.C. as the independent auditors for 2024.

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FAQ

What is the current stock price of Ashford Hospitality Trust (AHT)?

The current stock price of Ashford Hospitality Trust (AHT) is $0.8078 as of September 16, 2024.

What is the market cap of Ashford Hospitality Trust (AHT)?

The market cap of Ashford Hospitality Trust (AHT) is approximately 40.1M.

What is Ashford Hospitality Trust, Inc.?

Ashford Hospitality Trust, Inc. (NYSE: AHT) is a self-advised real estate investment trust (REIT) focused on investing in the hospitality industry, particularly in upper upscale, full-service hotels in the United States.

When was Ashford Hospitality Trust, Inc. established?

Ashford Hospitality Trust, Inc. was established in August 2003.

What types of properties does Ashford Hospitality Trust, Inc. invest in?

Ashford Hospitality Trust invests in full-service upscale and upper upscale hotel properties, targeting assets that generate revenue per available room (RevPAR) below twice the national average.

What brands operate under Ashford Hospitality Trust, Inc.?

Ashford Hospitality Trust's hotels operate under well-known brands such as Marriott, Hilton, Hyatt, Crowne Plaza, and Sheraton.

How does Ashford Hospitality Trust generate revenue?

Ashford Hospitality Trust generates revenue primarily from room bookings, food and beverage sales, and other ancillary services.

What are some recent achievements of Ashford Hospitality Trust, Inc.?

Recently, Ashford has sold multiple properties, including the Hilton Boston Back Bay and Courtyard Manchester, and completed refinancing for the Renaissance Hotel in Nashville to reduce debt and enhance financial stability.

Who is the current CEO of Ashford Hospitality Trust, Inc.?

As of June 2024, Stephen Zsigray will become the CEO, succeeding Rob Hays.

What is Ashford Hospitality Trust, Inc.'s strategy for future growth?

Ashford's strategy includes opportunistic investments in upper upscale hotels, portfolio management to reduce debt, and maintaining a high-quality, diverse property portfolio to leverage increasing travel demand.

What financial condition is Ashford Hospitality Trust, Inc. currently in?

Ashford Hospitality Trust is actively managing its portfolio and undertaking refinancing efforts to enhance liquidity and financial flexibility, with a focus on reducing debt and improving financial health.

What are Ashford Hospitality Trust, Inc.'s recent financial results?

Ashford reported preliminary first-quarter 2024 results, including net income attributable to common stockholders ranging from $66.4 million to $68.4 million, and Adjusted EBITDAre between $58.5 million and $60.5 million.

Ashford Hospitality Trust, Inc.

NYSE:AHT

AHT Rankings

AHT Stock Data

40.06M
50.20M
1.15%
23.78%
3.44%
REIT - Hotel & Motel
Real Estate Investment Trusts
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United States of America
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