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Ashford Hospitality Trust, Inc. (AHT)

- NYSE
  • Mon, Apr. 20, 8:58 AM
    • The new $25.1M financing for AHT's 168-room Lakeway Resort & Spa has a two-year term and three, one-year extension options. The loan is interest only with a floating rate of Libor +5.1%.
    • Source: Press Release
    | Mon, Apr. 20, 8:58 AM | 1 Comment
  • Fri, Apr. 17, 12:19 PM
    • For the first time in nearly a year, writes Susan Persin, weekly U.S. RevPAR fell as of April 4, and results were mixed for the following week, with lower occupancy offsetting ADR growth.
    • According to STR, which compiles the data, the RevPAR weakness is likely temporary thanks to Passover and Easter. The company notes fundamentals - an improving economy, low gasoline prices, and limited supply - remain in place.
    • Could be, says Persin, but investors - eyeing the strong dollar and its effect on foreign travel to the U.S. - had turned somewhat negative on the previously hot sector before April's data. Host Hotels and Resorts (NYSE:HST) is the largest lodging REIT by far, contributing more than 25% of the sector's market cap. Its stock peaked in December and is lower by 14.3% YTD, despite a Q4 earnings beat and raised guidance.
    • There's also supply concerns, with the 126K rooms under construction in March up 23% from a year ago. NYC has the largest number of rooms under construction/planned, followed by Houston, Miami, and Chicago.
    • Other sector names: Hospitality Properties (NYSE:HPT), Ashford Hospitality (NYSE:AHT), Strategic Hotels (NYSE:BEE), Sunstone Hotel  (NYSE:SHO), LaSalle Hotel (NYSE:LHO), Pebblebrook Hotel (NYSE:PEB), Chesapeake Lodging (NYSE:CHSP), Summit Hotels (NYSE:INN), RLJ Lodging (NYSE:RLJ), Chatham Lodging (NYSE:CLDT), Hersha Hospitality (NYSE:HT).
    | Fri, Apr. 17, 12:19 PM | 2 Comments
  • Thu, Apr. 9, 3:24 PM
    • A weak 30-year bond auction has long-term Treasury yields on the move higher, with the 10-year up five basis points to 1.96%. One also can't help but notice a recent uptick in capital raising among the equity REITs.
    • Realty Income (O -2.2%), Agree Realty (ADC -2.2%), Omega Healthcare (OHI -4%), Medical Properties Trust (MPW -2.5%), W.P. Carey (WPC -2.2%), Duke Realty (DRE -2.5%), Essex Property (ESS -2.9%), Aimco (AIV -3%), Simon Property (SPG -2.4%), Kimco (KIM -2.9%), Inland Real Estate (IRC -3%), DDR Corp (DDR -2.3%), Sovran Self Storage (SSS -2.2%), Washington Real Estate (WRE -4%), Digital Realty Trust (DLR -2%), Hospitality Properties (HPT -2.6%), Ashford Hospitality (AHT -2.4%), Stag Industrial (STAG -4.6%), American Campus (ACC -2.3%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    • Previously: Treasury yields on the rise after weak 30-year auction (April 9)
    | Thu, Apr. 9, 3:24 PM | 37 Comments
  • Fri, Mar. 27, 11:18 AM
    • The $33.3M mortgage loan is for the 232-room Marriott Memphis East hotel. The loan is interest-only at a rate of Libor +4.95%, with no Libor floor. The paper has a two-year term and three one-year extension options.
    • "Another example of our team's ability to access debt capital on favorable terms," says Ashford Trust (NYSE:AHT) CEO Monty Bennett.
    • Source: Press release
    | Fri, Mar. 27, 11:18 AM | Comment!
  • Fri, Mar. 13, 8:48 AM
    • Ashford Hospitality Trust (NYSE:AHT) declares $0.12/share quarterly dividend, in line with previous.
    • Forward yield 4.82%
    • Payable April 15; for shareholders of record March 31; ex-div March 27.
    | Fri, Mar. 13, 8:48 AM | Comment!
  • Mon, Mar. 9, 8:13 AM
    • Ashford Hospitality Trust (NYSE:AHT) closes the acquisition of the remaining 28.26% ownership interest of the Highland Hospitality portfolio from JV partner Prudential Real Estate Investors. The purchase price of $250.1M was paid in cash and funded by the concurrent refinancing of 24 hotels in the portfolio, along with proceeds from the recent stock sale.
    • The new mortgage of $1.07B replaces the old one of $908M.
    • The purchase deal boosts AUM at Ashford Inc. (NYSEMKT:AINC) by about $360M.
    • Source: Press Release
    • Source: Press Release
    | Mon, Mar. 9, 8:13 AM | Comment!
  • Fri, Mar. 6, 10:31 AM
    • Equity REITs are facing some competition as the 10-year Treasury yield has popped all the way to 2.24% (up 11 bps on the session) following the strong jobs report which saw 295K jobs added in February and the unemployment rate dropping to 5.5%.
    • Checking short-term interest rate futures, they're falling (meaning higher rates), but still not pricing in a rate hike until late summer.
    • The iShares U.S. Real Estate ETF (IYR -2.3%).
    • Realty Income (O -3.7%), National Retail Properties (NNN -3.9%), Agree Realty (ADC -3.1%), Omega Heathcare (OHI -4.5%), Health Care REIT (HCN -3.5%), Ventas(VTR -3.7%), HCP (HCP -3.6%), Medical Properties (MPW -4%), Healthcare Trust (HTA -4%), AvalonBay (AVB -2.7%), Essex Property (ESS -2.3%), Simon Property (SPG -2.3%), General Growth (GGP -2.2%), Kimco (KIM -2.9%), Inland Real Estate (IRC -2.9%), DDR (DDR -2.7%), Federal Realty Investment (FRT -2.6%), Public Storage (PSA -2%), Sovran Self Storage (SSS -2.7%), Boston Properties (BXP -2.8%), First Potomac (FPO -3.2%), Digital Realty Trust (DLR -1.9%), Hospitality Properties (HT -2.1%), Ashford (AHT -2.7%), STAG Industrial (STAG -3%), American Campus (ACC -2.9%).
    • ETFs: IYR, VNQ, DRN, URE, SRS, ICF, SCHH, RWR, KBWY, DRV, REK, FRI, FTY, PSR, WREI, FREL
    • Previously: Dollar and Treasury yields spike after strong jobs print (March 6)
    | Fri, Mar. 6, 10:31 AM | 62 Comments
  • Mon, Mar. 2, 10:32 AM
    • Equity REITs are nearly universally higher in Monday morning action, with the lodging REIT sector especially strong, but Ashford Hospitality Trust (AHT -0.6%) isn't participating as it loses a sell-side fan, with Credit Suisse pulling its Outperform rating, and downgrading to Neutral.
    | Mon, Mar. 2, 10:32 AM | Comment!
  • Thu, Feb. 26, 4:26 PM
    • Q4 adjusted FFO of $18M or $0.17 per share vs. $14.2M and $0.14 one year ago (which includes Ashford Prime).
    • Company expects to pay a $0.12 per share quarterly dividend this year, inline with the current level.
    • RevPAR for all hotels up 11.3% for the quarter. RevPAR for all hotels not under renovation up 12.6%. Hotel EBITDA up 17.6%. Hotel EBITDA margin up 194 basis points.
    • Spinoff of Ashford Inc. completed in November. Plans to form Ashford Hospitality Select announced in January.
    • "We also plan to take advantage of the favorable capital markets conditions to proactively address our debt maturities and generate excess cash to strengthen our balance sheet and shore up liquidity for attractive asset acquisition." opportunities
    • Earnings call tomorrow at 11 ET
    • Previously: Ashford Hospitality Trust beats by $0.04, misses on revenue (Feb. 26)
    • AHT flat after hours.
    | Thu, Feb. 26, 4:26 PM | Comment!
  • Thu, Feb. 26, 4:09 PM
    • Ashford Hospitality Trust (NYSE:AHT): Q4 FFO of $0.17 beats by $0.04.
    • Revenue of $190.36M (-9.0% Y/Y) misses by $3.99M.
    • Press Release
    | Thu, Feb. 26, 4:09 PM | Comment!
  • Wed, Feb. 25, 5:35 PM
  • Thu, Feb. 19, 11:25 AM
    • Maybe priced for perfection after big runs over the past couple of years, hotel REITs are pulling back after an earnings miss from Lasalle Hotel Properties (LHO -4.3%) and middling guidance from Host Hotels and Resorts (HST -5.4%).
    • Hospitality Properties (HPT -1.5%), Ashford Hospitality (AHT -1.2%), Strategic Hotels (BEE -0.9%), Pebblebrook Hotel Trust (PEB -1.7%), Summit Hotel (INN -2.2%), RLJ Lodging (RLJ -2.3%), Chatham Lodging (CLDT -1.1%).
    • Bucking the trend is Hersha Hospitality Trust (HT +1.1%) after beating Q4 consensus.
    • Previously: Credit Suisse takes profits on Pebblebrook Hotel (Feb. 18)
    | Thu, Feb. 19, 11:25 AM | Comment!
  • Mon, Feb. 9, 8:06 AM
    • The Lakeway Resort & Spa has 168 rooms and was purchased by AHT for $199K per key. The property will be managed by Remington Lodging.
    • The $33.5M purchase price represents a forward 12-month estimated cap rate of 8.7% and a 9.5x EBITDA multiple.
    • Source: Press Release
    | Mon, Feb. 9, 8:06 AM | Comment!
  • Fri, Jan. 30, 9:58 AM
    | Fri, Jan. 30, 9:58 AM | Comment!
  • Thu, Jan. 29, 4:07 PM
    • Proceeds will be used to help fund the purchase of the Memphis Marriott East hotel, the Lakeway Resort & Spa, and the company's JV partner's interest in PIM Highland JV.
    • Source: Press Release
    • AHT -0.5% after hours
    | Thu, Jan. 29, 4:07 PM | Comment!
  • Thu, Jan. 29, 8:30 AM
    • Ashford Hospitality Select will be dedicated to investing in premium-branded, upscale and upper-midscale, select-service hotels, and is expected to launch in H2. Ashford Hospitality Trust (NYSE:AHT) intends to contribute 16 of its hotels with estimated value of $331M at launch.
    • It was just over a year ago when Ashford Trust spun off Ashford Prime (NYSE:AHP).
    • Source: Press Release
    | Thu, Jan. 29, 8:30 AM | Comment!
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Company Description
Ashford Hospitality Trust, Inc., is a real estate investment trust. It is engaged in investing in the hospitality industry across all segments and in all methods including real estate, equity and debt.
Sector: Financial
Country: United States