Ashford Hospitality Trust Inc (AHT) Expected to Announce Quarterly Sales of $400.58 Million
Brokerages expect that Ashford Hospitality Trust Inc (NYSE:AHT) will announce sales of $400.58 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Ashford Hospitality Trust’s earnings. The lowest sales estimate is $396.63 million and the highest is $402.64 million. Ashford Hospitality Trust posted sales of $410.67 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.5%. The business is scheduled to report its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Ashford Hospitality Trust will report full-year sales of $400.58 million for the current financial year, with estimates ranging from $1.45 billion to $1.48 billion. For the next financial year, analysts anticipate that the company will post sales of $1.50 billion per share, with estimates ranging from $1.48 billion to $1.52 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Ashford Hospitality Trust.
Ashford Hospitality Trust (NYSE:AHT) last posted its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. Ashford Hospitality Trust had a negative net margin of 3.96% and a negative return on equity of 7.58%. The business had revenue of $353.70 million during the quarter, compared to analysts’ expectations of $350.47 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. Ashford Hospitality Trust’s revenue was down 3.8% compared to the same quarter last year.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Ashford Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, February 22nd. Cantor Fitzgerald reissued an “outperform” rating and set a $8.00 price objective on shares of Ashford Hospitality Trust in a report on Tuesday, February 28th. DA Davidson started coverage on Ashford Hospitality Trust in a report on Wednesday, March 22nd. They set a “buy” rating and a $8.00 price objective on the stock. FBR & Co raised Ashford Hospitality Trust from a “market perform” rating to an “outperform” rating and set a $8.00 price objective on the stock in a report on Monday, February 27th. Finally, Canaccord Genuity reissued a “hold” rating and set a $7.00 price objective on shares of Ashford Hospitality Trust in a report on Monday, May 8th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $7.18.
A number of institutional investors have recently made changes to their positions in AHT. Russell Investments Group Ltd. bought a new position in shares of Ashford Hospitality Trust during the fourth quarter worth approximately $1,436,000. Renaissance Technologies LLC boosted its position in shares of Ashford Hospitality Trust by 26.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,853,300 shares of the real estate investment trust’s stock worth $14,382,000 after buying an additional 385,300 shares during the period. AQR Capital Management LLC boosted its position in shares of Ashford Hospitality Trust by 8.1% in the fourth quarter. AQR Capital Management LLC now owns 229,963 shares of the real estate investment trust’s stock worth $1,785,000 after buying an additional 17,237 shares during the period. Norges Bank bought a new position in shares of Ashford Hospitality Trust during the fourth quarter worth approximately $7,308,000. Finally, State Street Corp boosted its position in shares of Ashford Hospitality Trust by 3.1% in the fourth quarter. State Street Corp now owns 2,936,916 shares of the real estate investment trust’s stock worth $22,789,000 after buying an additional 87,169 shares during the period. 72.41% of the stock is currently owned by institutional investors and hedge funds.
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Ashford Hospitality Trust (AHT) remained flat at $6.45 during midday trading on Friday. The stock had a trading volume of 1,119,675 shares. The company’s market cap is $628.48 million. Ashford Hospitality Trust has a 12 month low of $4.98 and a 12 month high of $8.23. The stock has a 50 day moving average of $6.29 and a 200-day moving average of $6.87.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, June 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 7.44%. Ashford Hospitality Trust’s dividend payout ratio is -43.64%.
About Ashford Hospitality Trust
Ashford Hospitality Trust, Inc is an externally-advised real estate investment trust (REIT). The Company is focused on investing in the hospitality industry with a focus on full-service upscale and upper-upscale hotels in the United States. The Company owns its lodging investments and conducts its business through Ashford Hospitality Limited Partnership (Ashford Trust OP), its operating partnership.
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