Welcome to our dedicated page for Ashford news (Ticker: AINC), a resource for investors and traders seeking the latest updates and insights on Ashford stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Ashford's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Ashford's position in the market.
Ashford Securities LLC, a subsidiary of Ashford (NYSE: AINC), announced strong investment interest for its Braemar Hotels and Resorts Redeemable Non-traded Series E and Series M Preferred Stock. Launched on July 9, 2021, the initiative raised over $2.1 million, including $1.6 million from syndicate firms and $500,000 from personal investors. President C. Jay Steigerwald III expressed enthusiasm about the demand and emphasized long-term growth prospects in partnerships with stakeholders.
Ashford Inc. (NYSE American: AINC) has announced the retirement of Robert Haiman, Executive VP, General Counsel, and Secretary, effective June 30, 2021, after nearly 17 years with the company. Alex Rose will succeed him as Executive VP, General Counsel, and Secretary starting July 1, 2021. Haiman will remain available for consultation for three years. Rose brings extensive legal experience from Kirkland & Ellis, where he handled complex transactions. This leadership change aims to ensure continuity and strengthen the company's legal strategy.
Ashford has announced its inclusion in the Russell Microcap® Index, effective June 28, 2021. This membership, obtained through objective market-capitalization assessments, enhances Ashford's visibility among institutions and investors, potentially broadening its shareholder base. The Russell indexes, which encompass approximately $10.6 trillion in assets, are significant for investment managers. Ashford aims to leverage this opportunity to increase stock liquidity as the only publicly-traded asset manager in the hospitality sector.
Ashford recently published an investor presentation detailing operational, financial, and strategic updates. As a unique asset manager in the hospitality industry, Ashford aims to capitalize on the recovery of this sector. The company highlighted four growth avenues: hospitality recovery, asset management increase, third-party business growth, and acquisitions. Noteworthy points include managing 113 hotels across two REITs and fostering synergies with nine service companies. Concerns remain regarding market volatility and COVID-19's impact on operations.
Ashford Securities has appointed Josh Rubinger as Senior Vice President, Head of National Accounts, tasked with enhancing business development and broker-dealer relationships. Rubinger, who brings nearly 20 years of experience in financial services, aims to boost the distribution of the company's investment offerings. His prior role was at Lightstone Capital Markets, and he has also worked with Oppenheimer and Columbia Funds. Ashford emphasizes that Rubinger's connections will be crucial for expanding their sales network.
Ashford announced its first quarter earnings release scheduled for May 5, 2021, after market close. A conference call will follow on May 6, 2021, at 12:00 p.m. ET, with dial-in details provided. The call can also be accessed live via the company's website. The Ashford App has been launched for hospitality REIT investors, available on major app stores.
Ashford announced that NYSE American has accepted its compliance plan for continued listing. The company was previously not compliant due to a stockholders' deficit of $159.2 million as of June 30, 2020, caused by losses over five recent fiscal years. The acceptance allows Ashford until February 26, 2022 to regain compliance with NYSE standards. The company will be monitored quarterly during this period, and failure to comply could result in delisting. Despite acceptance, Ashford has no assurance of regaining compliance or avoiding adverse events impacting its status.
Ashford announced receiving a letter from NYSE American on August 26, 2020, indicating non-compliance with continued listing standards. The Company reported a stockholders' deficit of $159.1 million as of June 30, 2020, and has faced losses in five recent fiscal years. To regain compliance, Ashford must submit a plan by September 25, 2020, aiming for resolution by February 26, 2022. Despite this, the Company's stock remains listed while it assesses alternatives, with total assets and revenue exceeding $50 million.