Ashford Hospitality Trust Azioni (NYSE: AHT)

Ashford Hospitality Trust (NYSE:AHT) Azioni

Ashford Hospitality Trust

Ashford Hospitality Trust Inc. is a real estate investment trust that invests in full-service upscale and upper-upscale hotel properties in the U.S. The company owns and operates its assets through its operating partnership, Ashford Hospitality Limited Partnership. All of its hotels are located across the U.S. and operate under the Marriott, Hilton, Hyatt, Crowne Plaza, and Sheraton brands. Ashford's sole segment is Direct Hotel Investments, through which it owns hotels by acquisition or development. Ashford also provides real estate investment services, such as mezzanine financing, first mortgage financing, and sales-leaseback transactions. Its revenue streams include Room revenue, Food and beverage revenue, and Other revenue. Room revenue accounts for the majority of total revenue.

Ashford Hospitality Trust Inc Common Stock

Ashford Hospitality Trust Inc

AhaToken

American Healthcare REIT Inc Ordinary Shares - Class I

Ashford Hospitality Trust Inc 8.45% Series D Cumulative Preferred Stock

Ashford Hospitality Trust Inc 7.375% Series F Cumulative Preferred Stock

Ashford Hospitality Trust Inc 7.375% Series G Cumulative Preferred Stock

Ashford Hospitality Trust Inc 7.50% Series H Cumulative Preferred Stock

Ashford Hospitality Trust Inc 7.50% Series I Cumulative Preferred Stock

News

General

Ashford Hospitality Trust Expects To Report Occupancy Of ~ 68% For The First Quarter Of 2025 With Average Daily Rate Of ~ $196 Resulting In RevPAR Of ~ $133

The loan had an original final maturity date in November of 2024. The extension provides for an initial maturity in March of 2026 and two, one-year extension options, subject to the satisfaction of certain conditions, with a final maturity date in March of 2028.&nbsp; The loan has a current balance of $409.8 million and continues to bear interest at a floating rate of SOFR + 3.39%. The extension also provides added flexibility for the Company to release assets upon sale.

Reported Earlier, Ashford Hospitality Trust Extends $409.8M Mortgage Loan On 17 Hotels, Pushing Final Maturity To 2028

Ashford Hospitality Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHT#NYSE">AHT</a>) ("Ashford Trust" or the "Company") announced today that Remington, its largest property manager, has fully implemented property-level headcount reductions, reduced travel expenses, changed the PTO policy for field associates, and reduced contracted services and centralized expenses allocated to the Company's properties as part of its ongoing efforts to enhance Hotel EBITDA. These strategic moves reflect Remington's commitment to helping Ashford Trust execute on "GRO AHT," the Company's transformative initiative, aimed at driving $50 million in annual run-rate EBITDA improvement and significantly increasing shareholder value.
These expense reductions are expected to drive over $11 million in incremental Hotel EBITDA, reinforcing Ashford Trust's commitment to optimizing financial performance while ensuring long-term sustainability. Combined with the previously announced implementation of ancillary revenue initiatives and corporate expense reductions, the Company expects completed initiatives to contribute over $30 million per year in incremental EBITDA towards its $50 million goal.

Management

Ashford Hospitality Trust Targets $50M Annual Run-Rate EBITDA Growth Through $11M Hotel Expense Cuts and Ancillary Initiatives; Expects Completed Initiatives To Contribute Over $30M Per Year In Incremental EBITDA Towards Its $50M Goal

Ashford Hospitality Trust Announces Reductions In Corporate Administrative And General Expenses

Compensation for board members was reduced by 50%, and the Board of Directors has currently been reduced from nine members down to seven. Additionally, incentive awards granted to executive management and other associates have been reduced by more than 50% in aggregate relative to recent years. Ashford Trust expects that these changes will result in more than $11 million in incremental EBITDA, reinforcing the company's commitment to financial discipline and operational efficiency.

Reported Earlier, Ashford Trust Reduces Board Size And Cuts Executive Compensation By 50% As Part Of 'GRO AHT' Strategy

Ashford Hospitality Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHT#NYSE">AHT</a>) reported quarterly losses of $(2.21) per share. This is a 38.61 percent increase over losses of $(3.60) per share from the same period last year. The company reported quarterly sales of $275.481 million which beat the analyst consensus estimate of $264.400 million by 4.19 percent. This is a 13.88 percent decrease over sales of $319.884 million the same period last year.

Earnings

Earnings Beats

Ashford Hospitality Trust Q4 2024 AFFO $(2.21) Up From $(3.60) YoY, Sales $275.481M Beat $264.400M Estimate

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Earnings Scheduled For February 25, 2025

Ashford Hospitality Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHT#NYSE">AHT</a>) ("Ashford Trust" or the "Company") announced today that it has completed the sale of the 315-room Courtyard Boston Downtown located in Boston, Massachusetts for $123.0 million ($390,500 per key).

Asset Sales

Ashford Hospitality Trust Announces Sale Of The Courtyard Boston Downtown For $123M

Ashford Hospitality Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHT#NYSE">AHT</a>) ("Ashford Trust" or the "Company") reported today that the Company expects to report Occupancy of approximately 66% for the fourth quarter of 2024 with Average Daily Rate of approximately $190 resulting in RevPAR of approximately $126. This Comparable RevPAR reflects an approximate increase of 3.0% compared to the fourth quarter of 2023.
Additionally, for the month of October 2024, Comparable RevPAR increased approximately 4.5% versus October 2023. For the month of November 2024, Comparable RevPAR increased approximately 0.4% versus November 2023. For the month of December 2024, Comparable RevPAR increased approximately 3.8% versus December 2023.

Guidance

Ashford Trust Announces 66% Q4 2024 Occupancy With $190 Daily Rate, RevPAR Up 3% From Q4 2023

WIIM

Ashford Hospitality Trust shares are trading higher after the company announced it launched strategic initiatives and is targeting $50 million of EBITDA improvement.

Ashford is committed to achieving significant reductions in corporate overhead. Key actions include:
Substantially cutting management and board compensation while enhancing alignment with shareholders
◦Negotiating to reduce advisory fees and reimbursable expenses with advisor Ashford, Inc.
◦Reducing professional services and other general and administrative expenses
Reducing payroll expense through recently completed reductions in force and upcoming changes to PTO policies
◦Re-negotiating contracts and bidding out MSAs to achieve cost savings
◦Implementing LED lighting and other energy-saving initiatives across the portfolio
◦Optimizing overtime and contract labor usage to further reduce labor costs

Ashford Hospitality Trust Launches Strategic Initiative; Targets Incremental $50M Of EBITDA Improvement To Run-Rate Corporate EBITDA - Filing

Ashford Hospitality Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHT#NYSE">AHT</a>) ("Ashford Trust" or the "Company") announced today that it has signed a definitive agreement to sell the 315-room Courtyard Boston Downtown located in Boston, Massachusetts for $123.0 million ($390,500 per key). The sale is expected to be completed in January 2025 and is subject to normal closing conditions. The Company provides no assurances that the sale will be completed on these terms or at all.
When adjusted for the Company's anticipated capital expenditures, the sale price represents a 5.9% capitalization rate on net operating income for the trailing twelve months ended September 30, 2024, or 14.3x Hotel EBITDA for the same time period. Excluding the anticipated capital spend, the sale price represents a 6.9% capitalization rate on net operating income for the trailing twelve months ended September 30, 2024, or 12.3x Hotel EBITDA for the same time period.

Ashford Hospitality Trust Announces Agreement To Sell The Courtyard Boston Downtown, Located In Boston, Massachusetts For $123M

Ashford Hospitality Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHT#NYSE">AHT</a>) reported quarterly AFFO of $(1.71) per share which missed the analyst consensus estimate of $(0.97) by 76.29 percent. This is a 311.11 percent decrease over earnings of $0.81 per share from the same period last year. The company reported quarterly sales of $276.60 million which beat the analyst consensus estimate of $268.97 million by 2.84 percent. This is a 19.36 percent decrease over sales of $343.01 million the same period last year.

Earnings Misses

Ashford Hospitality Trust Q3 2024 AFFO $(1.71) Misses $(0.97) Estimate, Sales $276.60M Beat $268.97M Estimate

Ashford Hospitality Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHT#NYSE">AHT</a>) is preparing to release its quarterly earnings on Tuesday, 2024-11-05. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Ashford Hospitality Trust to report an earnings per share (EPS) of $-0.60.
Investors in Ashford Hospitality Trust are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
Here's a look at Ashford Hospitality Trust's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>EPS Actual</td>
<td>2.7</td>
<td>-3.5</td>
<td>-3.6</td>
<td>0.8</td>
</tr>
<tr>
<td>Price Change %</td>
<td>8.0%</td>
<td>-2.0%</td>
<td>8.0%</td>
<td>-6.0%</td>
</tr>
</tbody>
</table>

<h3>Tracking Ashford Hospitality Trust's Stock Performance</h3>
Shares of Ashford Hospitality Trust were trading at $6.65 as of November 01. Over the last 52-week period, shares are down 73.36%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/AHT/earnings">To track all earnings releases for Ashford Hospitality Trust visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Ashford Hospitality Trust

Ashford Hospitality Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHT#NYSE">AHT</a>) ("Ashford Trust" or the "Company") announced today that its Board of Directors unanimously approved a reverse split of the Company's common stock at a ratio of 1-for-10.
As of the effective date of the reverse split, each share of the Company's issued and outstanding common stock and equivalents will be converted into 1/10th of a share of the Company's common stock. The reverse stock split will become effective as of the close of business on October 25, 2024 and the common stock is anticipated to commence trading on the New York Stock Exchange (the "NYSE") on October 28, 2024 on the split-adjusted basis. The foregoing actions have been duly approved by the Company's Board of Directors pursuant to the Maryland General Corporation Law and no stockholder approval is required.

Stock Split

Ashford Hospitality Trust Announces Details For 1-For-10 Reverse Stock Split, Anticipated To Commence Trading On The NYSE On October 28, 2024 On The Split-adjusted Basis

This Comparable RevPAR reflects an approximate decrease of&nbsp;1.6%&nbsp;compared to the&nbsp;third quarter&nbsp;of 2023.&nbsp;
Additionally, for the month of&nbsp;July 2024, Comparable RevPAR increased approximately&nbsp;0.3%&nbsp;versus&nbsp;July 2023. For the month of&nbsp;August 2024, Comparable RevPAR decreased approximately&nbsp;2.1%&nbsp;versus&nbsp;August 2023. For the month of&nbsp;September 2024, Comparable RevPAR decreased approximately&nbsp;3.0%&nbsp;versus&nbsp;September 2023. &nbsp;
Further, as previously announced, the Company commenced the offering of its Non-Traded Preferred Equity during the&nbsp;third quarter&nbsp;of 2022.&nbsp;

Ashford Hospitality Trust Expects To Report Occupancy Of Approximately 71% For Q3 With Average Daily Rate Of $187 Resulting In RevPAR Of Approximately $132

Ashford Hospitality shares are trading lower. The company announced it intends to execute a 1-for-10 reverse stock split in order to regain NYSE compliance.

Ashford Hospitality Trust Intends To Execute 1-For-10 Reverse Stock Split In Order To Regain NYSE Compliance

Ashford Hospitality Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHT#NYSE">AHT</a>) reported quarterly earnings of $0.27 per share which beat the analyst consensus estimate of $0.13 by 107.69 percent. The company reported quarterly sales of $316.482 million which beat the analyst consensus estimate of $308.900 million by 2.45 percent. This is a 15.77 percent decrease over sales of $375.749 million the same period last year.

Ashford Hospitality Trust Q2 2024 FFO $0.27 Beats $0.13 Estimate, Sales $316.482M Beat $308.900M Estimate

Ashford Hospitality Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHT#NYSE">AHT</a>) ("Ashford Trust" or the "Company") today announced that it has closed on the sale of the 90-room SpringHill Suites and the 86-room Fairfield Inn located in Kennesaw, Georgia for $17.5 million.&nbsp; The sale price represented a 4.8% capitalization rate on trailing 12-month net operating income through April 2024. &nbsp;The hotels were encumbered with a mortgage loan that had an outstanding balance of approximately $10.8 million.&nbsp; All remaining proceeds from the sale will be used for general corporate purposes, including the pay down of the Company's strategic financing.
Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.

Ashford Hospitality Trust Has Closed On The Sale Of Springhill Suites And The Fairfield Inn Located In Kennesaw, Georgia For $17.5M

Press Releases

Real Estate

ASHFORD HOSPITALITY TRUST ANNOUNCES CLOSING OF $580 MILLION MORTGAGE LOAN SECURED BY 16 HOTELS

ASHFORD HOSPITALITY TRUST ANNOUNCES FULL PAY OFF OF STRATEGIC FINANCING

ASHFORD HOSPITALITY TRUST ANNOUNCES EXTENSION OF MORTGAGE LOAN SECURED BY THE HOTEL INDIGO ATLANTA MIDTOWN

ASHFORD HOSPITALITY TRUST ANNOUNCES APPROVED REDUCTION IN BOARD AND MANAGEMENT COMPENSATION

Fintech

ASHFORD HOSPITALITY TRUST ANNOUNCES REDUCTIONS IN CORPORATE ADMINISTRATIVE & GENERAL EXPENSES

Contracts

ASHFORD HOSPITALITY TRUST ANNOUNCES PROPERTY-LEVEL WORKFORCE ADJUSTMENTS AND EXPENSE REDUCTIONS

ASHFORD TRUST SETS FIRST QUARTER EARNINGS RELEASE AND CONFERENCE CALL DATES

Dividends

ASHFORD TRUST DECLARES PREFERRED DIVIDENDS FOR THE SECOND QUARTER OF 2025

ASHFORD HOSPITALITY TRUST ANNOUNCES EXTENSION OF MORTGAGE LOAN SECURED BY 17 HOTELS

ASHFORD HOSPITALITY TRUST ANNOUNCES PRELIMINARY FIRST QUARTER 2025 RESULTS

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