Ashford Hospitality Tr Inc Stock Price, News & Analysis

Ashford Hospitality Trust (NYSE: AHT) reported strong preliminary results for Q1 2023, expecting a Comparable RevPAR growth of approximately 30% year-over-year. The occupancy rate is anticipated to be around 68%, with an average daily rate of $184, leading to a RevPAR of approximately $125. Notably, January 2023 saw a 49% increase in Comparable RevPAR compared to January 2022, while February and March reported increases of 30% and 19% respectively. The company revealed that 40% of its hotels would remain in cash traps, a significant reduction from 79% in Q4 2022. Furthermore, Ashford extended its BAML Highland Pool Loan until April 2024, paying down $45 million of the existing balance.

Ashford Hospitality Trust (NYSE: AHT) announced dividend declarations for its preferred stock for Q2 2023. The 8.45% Series D will pay $0.5281 per share, totaling $2.1125 annually, while the 7.375% Series F and 7.375% Series G will each pay $0.4609 per share, equating to $1.8438 annually. The 7.50% Series H and 7.50% Series I will provide $0.46875 per share, amounting to $1.875 annually. Additionally, Series J and Series K will pay $0.50 and $0.5125 quarterly, respectively. All dividends are payable on July 17, 2023 to shareholders of record by June 30, 2023.

Ashford Securities, a subsidiary of Ashford Inc. (AINC), reports strong interest in its Series J and K Redeemable Preferred Stock offerings for Ashford Hospitality Trust (AHT). Since launching the offering, Ashford Trust has secured over $13.3 million in sales—including $9.1 million in March 2023. The company has partnered with a syndicate of 27 broker-dealers and RIA firms to support this rollout. C. Jay Steigerwald III, President of Ashford Securities, expressed satisfaction with the early success, indicating robust adoption by independent brokers and RIAs, and optimism for future growth.

Ashford Hospitality Trust (NYSE: AHT) has announced its plans to release first-quarter earnings for the period ending March 31, 2023. The earnings report will be issued after market close on May 1, 2023, followed by a conference call on May 2, 2023, at 11:00 a.m. ET. Investors can participate via phone at (201) 389-0920, with a replay available until May 9, 2023. The conference call will also be streamed live on the company’s website and available for replay for approximately one year.

Ashford Hospitality Trust (NYSE: AHT) recently addressed its current cash holdings amid recent banking industry events. The company disclosed that approximately 42% of its cash is held in short-term U.S. Treasury Securities with less than 90 days to maturity. About 27% is in fully insured Insured Cash Sweep (ICS) accounts, while 30% pertains to property-level operating cash at designated Global Systemically Important Banks (G-SIBs). Ashford Trust is a real estate investment trust focused primarily on upper upscale, full-service hotels. The statement includes forward-looking risks affecting its strategy and performance.

Ashford Securities LLC, a subsidiary of Ashford Inc. (NYSE: AINC), has successfully closed its offering of Series E & M Redeemable Preferred Stock for Braemar Hotels & Resorts Inc. (NYSE: BHR), raising $460 million. C. Jay Steigerwald III, President of Ashford Securities, praised the team's efforts in creating a strong platform for investment. This capital will support further fundraising for Ashford Hospitality Trust, Inc. (NYSE: AHT) through upcoming Series J & K offerings. Ashford Securities aims to continue leveraging its relationships with broker-dealers and RIAs to enhance capital acquisition in the real estate and hospitality sectors.

Ashford Hospitality Trust (AHT) declared dividends for its preferred stocks for Q1 2023. The Board announced a dividend of $0.5281 per share for Series D, payable April 17, 2023. Series F and Series G each received a dividend of $0.4609 per share. Series H and Series I also each declared a dividend of $0.46875 per share. Additionally, monthly cash dividends for Series J and K are set at $0.50 and $0.5125 respectively. All dividends are payable to stockholders of record as of March 31, 2023.