B.Riley FBR analyst Bryan Maher maintained a Buy rating on Ashford Hospitality Trust (AHT) today and set a price target of $7.50. The company’s shares opened today at $5.33.
Maher wrote:
“Ashford Hospitality Trust (AHT) reported 4Q18 results that came in slightly below expectations. AFFO/share came in at $0.18 below our $0.20 estimate and the consensus estimate of $0.19. Adjusted EBITDAre came in at $89.8M, below our $92.0M estimate and the consensus estimate of $91.9M. The slight earnings miss was primarily due to higher F&B and other operating expenses, combined with slightly lower top-line results ($343.5M vs. our $344.7M estimate). Comparable portfolio-wide RevPAR decreased 0.6%, due to ADR growth of 1.1% and a 1.6% decrease in occupancy. 10 hotels that the company had under renovation during the quarter, comparable RevPAR increased 0.6% on a 1.6% increase in ADR and a 1.0% decrease in occupancy.”
According to TipRanks.com, Maher is a 2-star analyst with an average return of 0.1% and a 52.0% success rate. Maher covers the Financial sector, focusing on stocks such as Office Properties Income Trust, Braemar Hotels & Resorts Inc, and Community Healthcare Trust.
Ashford Hospitality Trust has an analyst consensus of Moderate Buy, with a price target consensus of $7.50.
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Based on Ashford Hospitality Trust’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $27.92 million. In comparison, last year the company had a GAAP net loss of $30.32 million.
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Ashford Hospitality Trust, Inc. is a real estate investment trust, which invests in the hospitality industry. It invests in lodging-related assets; direct hotel investments; mezzanine financing through origination or acquisition; first-lien mortgage financing through origination or acquisition; sale-leaseback transactions; and other hospitality transactions.
