Every 10-Q that Ashford Hospitality Trust, Inc. (AHT) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AHT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AHT filings page.
Ashford Hospitality Trust, Inc. reported a sharp accounting turnaround for the quarter ended June 30, 2026, driven largely by asset sales and derecognitions. Total revenue was $273.2 million versus $302.0 million a year earlier, reflecting a smaller hotel portfolio after multiple 2025–2026 dispositions. Despite lower revenue, the company recorded net income of $129.4 million, compared with a net loss of $32.4 million in the prior-year quarter, mainly due to $150.0 million of gains on hotel sales and $6.8 million of gains on derecognition of assets.
Year‑to‑date, net income was $63.9 million versus a loss of $54.6 million, even after $112.6 million of impairment charges on nine properties tied to reduced holding periods. Operating cash flow improved to $22.1 million for the first half from negative $8.6 million a year earlier. The company used strong sale proceeds of $592.8 million to reduce indebtedness from $2.56 billion to $1.99 billion. However, management disclosed substantial doubt about its ability to continue as a going concern, citing $945.2 million of non‑recourse loans maturing within one year, a default and acceleration notice on a $325 million JPM8 loan, and a potential change‑of‑control termination fee under its advisory agreement. Common equity remains negative at $(570.9) million, and cumulative preferred dividends are in arrears after suspension to preserve liquidity.
Ashford Hospitality Trust reported a weak first quarter of 2026 with mounting financial strain. Total revenue was $267.7 million, slightly below $277.4 million a year earlier, while net income swung to a much larger loss of $65.5 million versus $22.2 million.
Results were heavily affected by $112.6 million of impairment charges on nine hotels, partly offset by $100.0 million of gains on property sales and $7.8 million of gains on derecognition of assets. The company generated $29.5 million of operating cash flow and $197.1 million from asset sales but used $222.0 million in financing cash flows, mainly to repay debt.
Ashford ended the quarter with $79.8 million of cash and $141.2 million of restricted cash, $2.6 billion of total assets and $3.0 billion of liabilities, resulting in a stockholders’ deficit of $695.2 million. Management disclosed substantial doubt about the company’s ability to continue as a going concern, citing $1.9 billion of non‑recourse loans maturing within one year and potential advisory termination fees. Preferred dividends, including on Series D, F, G, H, I, J, K, L and M shares, have been suspended and are accruing in arrears.
Ashford Hospitality Trust reported Q3 2025 results showing total revenue of $266,061 thousand versus $276,600 thousand a year ago. Hotel revenue was $265,676 thousand. The company recorded an operating income of $12,217 thousand, supported by gains on asset activity, but posted a net loss of $62,725 thousand for the quarter. Loss per share was $11.35.
Expenses included hotel operating costs of $193,272 thousand, depreciation and amortization of $34,589 thousand, and impairment charges of $18,374 thousand. Interest expense and amortization of discounts and loan costs were $62,879 thousand, with an additional $9,684 thousand of interest expense associated with hotels in receivership.
On the balance sheet at September 30, 2025, total assets were $3,008,436 thousand and total liabilities were $3,308,060 thousand. Stockholders’ equity (deficit) was $(548,738) thousand. Cash and cash equivalents were $81,903 thousand and restricted cash was $164,219 thousand. Common shares outstanding were 6,411,532 as of November 11, 2025.
Ashford Hospitality Trust (AHT) reports consolidated interim results and disclosures for the quarter ended June 30, 2025. The company holds interests in a portfolio of branded hotels: 67 consolidated operating properties (16,736 rooms), one consolidated property held through a 29.3% investment (188 rooms), and four properties via a 98.7% interest in Stirling REIT OP (405 rooms). The Meritage Investment carries a book value of approximately $7.2 million. The filing notes asset sales and financing activity, including a $7.2 million land sale at Residence Inn Orlando that produced a $6.7 million gain and receipt of $35.0 million for an equity investment that carries a 14.0% preferred return and mandatory redemption in 2029.
The company discloses material debt positions and workouts: total indebtedness carrying value of $2.7 billion (fair value ~100%), indebtedness associated with hotels in receivership carrying $301.0 million (fair value ~82.5%), mortgage loan defaults on certain loans with default interest accrued, loan amendments and extensions (notably Morgan Stanley Pool extended to March 2026 with balance $409.8 million at SOFR + 3.39%), repayment of the Oaktree term loan on February 12, 2025 (including $30.0 million exit fee), properties classified as held for sale, and a $20.0 million promissory note facility from Ashford LLC to Ashford Trust OP at 10.0% interest.