Zacks Investment Research Downgrades Ashford Hospitality Trust (NYSE:AHT) to Sell

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Ashford Hospitality Trust (NYSE:AHT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

Other equities analysts have also recently issued reports about the stock. DA Davidson cut shares of Ashford Hospitality Trust from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $7.00 to $4.00 in a research report on Monday, June 17th. Robert W. Baird set a $5.00 price objective on shares of Ashford Hospitality Trust and gave the stock a “hold” rating in a research report on Monday, June 17th. Finally, ValuEngine cut shares of Ashford Hospitality Trust from a “sell” rating to a “strong sell” rating in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Ashford Hospitality Trust presently has a consensus rating of “Hold” and a consensus target price of $6.25.

AHT stock opened at $2.63 on Monday. The stock’s 50 day moving average is $3.78. The firm has a market cap of $282.93 million, a PE ratio of 2.09, a price-to-earnings-growth ratio of 0.51 and a beta of 1.40. Ashford Hospitality Trust has a 1 year low of $2.47 and a 1 year high of $8.47. The company has a debt-to-equity ratio of 11.28, a quick ratio of 3.07 and a current ratio of 3.07.

Ashford Hospitality Trust (NYSE:AHT) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.74). The company had revenue of $358.72 million for the quarter, compared to analyst estimates of $353.87 million. Ashford Hospitality Trust had a negative return on equity of 30.20% and a negative net margin of 9.58%. On average, analysts predict that Ashford Hospitality Trust will post 1.08 EPS for the current fiscal year.

In other Ashford Hospitality Trust news, Director Benjamin J. Md Ansell purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was purchased at an average cost of $3.36 per share, for a total transaction of $67,200.00. Following the transaction, the director now owns 104,405 shares in the company, valued at approximately $350,800.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin J. Md Ansell purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was acquired at an average price of $2.90 per share, with a total value of $72,500.00. Following the completion of the transaction, the director now owns 104,405 shares in the company, valued at approximately $302,774.50. The disclosure for this purchase can be found here. Corporate insiders own 11.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AHT. Rhumbline Advisers increased its position in Ashford Hospitality Trust by 37.2% in the 4th quarter. Rhumbline Advisers now owns 138,780 shares of the real estate investment trust’s stock valued at $555,000 after acquiring an additional 37,610 shares during the period. California Public Employees Retirement System increased its position in Ashford Hospitality Trust by 7.8% in the 4th quarter. California Public Employees Retirement System now owns 482,751 shares of the real estate investment trust’s stock valued at $1,931,000 after acquiring an additional 35,134 shares during the period. BlackRock Inc. increased its position in Ashford Hospitality Trust by 6.4% in the 4th quarter. BlackRock Inc. now owns 9,006,331 shares of the real estate investment trust’s stock valued at $36,026,000 after acquiring an additional 544,053 shares during the period. Massachusetts Financial Services Co. MA increased its position in Ashford Hospitality Trust by 8.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 216,124 shares of the real estate investment trust’s stock valued at $865,000 after acquiring an additional 16,820 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Ashford Hospitality Trust by 20.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,086,957 shares of the real estate investment trust’s stock valued at $4,348,000 after acquiring an additional 181,661 shares during the period. Hedge funds and other institutional investors own 69.95% of the company’s stock.

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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