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Ashford Hospitality Trust

NYSE:AHT.PRH
Snowflake Description

Fair value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AHT.PRH
NYSE
$653M
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing opportunistically in the hospitality industry in upper upscale, full-service hotels. The last earnings update was 8 days ago. More info.


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AHT.PRH Share Price and Events
7 Day Returns
-1.4%
NYSE:AHT.PRH
0.2%
US REITs
-3.9%
US Market
1 Year Returns
-2.9%
NYSE:AHT.PRH
13%
US REITs
1.4%
US Market
AHT.PRH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ashford Hospitality Trust (AHT.PRH) -1.4% -1.2% 7.1% -2.9% - -
US REITs 0.2% -1.4% 3.2% 13% 8.8% 24%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • AHT.PRH underperformed the REITs industry which returned 13% over the past year.
  • AHT.PRH underperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
AHT.PRH
Industry
5yr Volatility vs Market

AHT.PRH Value

 Is Ashford Hospitality Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ashford Hospitality Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ashford Hospitality Trust.

NYSE:AHT.PRH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 14.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:AHT.PRH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (642.95%))
2.495
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (2 * 5.96%)
14.65%

Discounted Cash Flow Calculation for NYSE:AHT.PRH using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Ashford Hospitality Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Ashford Hospitality Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:AHT.PRH DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 14.65%)
2019 79.15 Analyst x1 69.04
2020 69.79 Analyst x1 53.10
2021 72.45 Est @ 3.8% 48.07
2022 74.97 Est @ 3.48% 43.39
2023 77.41 Est @ 3.26% 39.08
2024 79.81 Est @ 3.1% 35.14
2025 82.19 Est @ 2.99% 31.57
2026 84.59 Est @ 2.91% 28.33
2027 87.00 Est @ 2.86% 25.42
2028 89.45 Est @ 2.82% 22.80
Present value of next 10 years cash flows $395.93
NYSE:AHT.PRH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $89.45 × (1 + 2.73%) ÷ (14.65% – 2.73%)
$770.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $770.93 ÷ (1 + 14.65%)10
$196.46
NYSE:AHT.PRH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $395.93 + $196.46
$592.39
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $592.39 / 124.00
$20.81
NYSE:AHT.PRH Discount to Share Price
Calculation Result
Value per share (USD) From above. $90.16
Current discount Discount to share price of $22.96
= -1 x ($22.96 - $90.16) / $90.16
74.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Ashford Hospitality Trust is available for.
Intrinsic value
>50%
Share price is $22.96 vs Future cash flow value of $90.16
Current Discount Checks
For Ashford Hospitality Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ashford Hospitality Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Ashford Hospitality Trust's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ashford Hospitality Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ashford Hospitality Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:AHT.PRH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-1.85
NYSE:AHT Share Price ** NYSE (2019-05-15) in USD $5.3
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.37x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ashford Hospitality Trust.

NYSE:AHT.PRH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AHT Share Price ÷ EPS (both in USD)

= 5.3 ÷ -1.85

-2.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ashford Hospitality Trust is loss making, we can't compare its value to the US REITs industry average.
  • Ashford Hospitality Trust is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Ashford Hospitality Trust's expected growth come at a high price?
Raw Data
NYSE:AHT.PRH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
11.1%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 1.91x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Ashford Hospitality Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Ashford Hospitality Trust's assets?
Raw Data
NYSE:AHT.PRH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $3.64
NYSE:AHT Share Price * NYSE (2019-05-15) in USD $5.3
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:AHT.PRH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AHT Share Price ÷ Book Value per Share (both in USD)

= 5.3 ÷ 3.64

1.46x

* Primary Listing of Ashford Hospitality Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ashford Hospitality Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Ashford Hospitality Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Ashford Hospitality Trust has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AHT.PRH Future Performance

 How is Ashford Hospitality Trust expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ashford Hospitality Trust expected to grow at an attractive rate?
  • Unable to compare Ashford Hospitality Trust's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Ashford Hospitality Trust's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • Ashford Hospitality Trust's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:AHT.PRH Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:AHT.PRH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 11.1%
NYSE:AHT.PRH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 2.9%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.2%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:AHT.PRH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:AHT.PRH Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,583 -143 2
2020-12-31 1,538 207 -127 5
2019-12-31 1,500 213 -150 6
NYSE:AHT.PRH Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,445 192 -182
2018-12-31 1,429 182 -170
2018-09-30 1,424 166 -153
2018-06-30 1,420 171 -153
2018-03-31 1,421 185 -125
2017-12-31 1,433 207 -124
2017-09-30 1,434 167 -133
2017-06-30 1,453 192 -131
2017-03-31 1,475 169 -108
2016-12-31 1,486 180 -90
2016-09-30 1,501 267 -62
2016-06-30 1,490 251 -52

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ashford Hospitality Trust is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Ashford Hospitality Trust's revenue is expected to grow by 2.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:AHT.PRH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Ashford Hospitality Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AHT.PRH Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31 -1.61 -1.61 -1.61 1.00
NYSE:AHT.PRH Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -1.85
2018-12-31 -1.75
2018-09-30 -1.59
2018-06-30 -1.59
2018-03-31 -1.31
2017-12-31 -1.30
2017-09-30 -1.40
2017-06-30 -1.38
2017-03-31 -1.14
2016-12-31 -0.95
2016-09-30 -0.66
2016-06-30 -0.55

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Ashford Hospitality Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Ashford Hospitality Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ashford Hospitality Trust has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AHT.PRH Past Performance

  How has Ashford Hospitality Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ashford Hospitality Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ashford Hospitality Trust does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Ashford Hospitality Trust's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Ashford Hospitality Trust's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Ashford Hospitality Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ashford Hospitality Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AHT.PRH Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,444.69 -182.31 19.90
2018-12-31 1,428.66 -170.44 19.43
2018-09-30 1,423.96 -153.13 15.90
2018-06-30 1,420.37 -152.67 15.22
2018-03-31 1,421.47 -124.51 15.25
2017-12-31 1,432.79 -123.92 18.29
2017-09-30 1,434.12 -133.46 19.18
2017-06-30 1,452.84 -130.73 18.73
2017-03-31 1,474.69 -107.59 18.26
2016-12-31 1,485.93 -89.59 14.77
2016-09-30 1,501.07 -62.36 14.60
2016-06-30 1,489.85 -51.99 16.41
2016-03-31 1,450.71 -95.58 16.74
2015-12-31 1,330.14 233.90 14.51
2015-09-30 1,161.07 241.79 24.99
2015-06-30 1,005.22 244.68 36.32
2015-03-31 849.59 256.07 52.65
2014-12-31 797.34 -65.70 60.54
2014-09-30 809.52 -69.07 57.23
2014-06-30 837.15 -71.83 55.59
2014-03-31 882.43 -63.09 50.84
2013-12-31 916.12 -75.36 51.12
2013-09-30 955.28 -74.01 57.70
2013-06-30 940.18 -70.42 55.09
2013-03-31 920.08 -77.62 52.32
2012-12-31 898.82 -84.40 48.05
2012-09-30 862.81 -74.45 46.97
2012-06-30 854.35 -81.54 45.21

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Ashford Hospitality Trust has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Ashford Hospitality Trust used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • It is difficult to establish if Ashford Hospitality Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Ashford Hospitality Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ashford Hospitality Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AHT.PRH Health

 How is Ashford Hospitality Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ashford Hospitality Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ashford Hospitality Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ashford Hospitality Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Ashford Hospitality Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ashford Hospitality Trust Company Filings, last reported 1 month ago.

NYSE:AHT.PRH Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 474.63 4,201.56 243.48
2018-12-31 533.85 3,927.27 320.27
2018-09-30 618.60 3,894.45 327.57
2018-06-30 658.44 3,948.02 419.06
2018-03-31 697.23 3,712.79 278.50
2017-12-31 749.27 3,696.30 355.29
2017-09-30 817.24 3,698.87 393.98
2017-06-30 856.05 3,698.43 404.91
2017-03-31 867.21 3,720.04 307.39
2016-12-31 925.15 3,723.56 349.47
2016-09-30 863.85 3,728.65 262.95
2016-06-30 910.11 3,758.77 276.56
2016-03-31 895.58 3,879.23 236.42
2015-12-31 930.31 3,840.62 217.19
2015-09-30 978.08 3,698.39 190.15
2015-06-30 1,127.07 3,651.36 283.41
2015-03-31 1,163.66 3,387.62 356.14
2014-12-31 709.50 1,943.13 215.25
2014-09-30 770.36 1,959.61 280.89
2014-06-30 802.12 1,776.76 212.33
2014-03-31 733.73 1,780.43 154.21
2013-12-31 753.04 1,818.96 128.80
2013-09-30 1,050.70 2,440.45 310.47
2013-06-30 1,073.33 2,381.93 250.49
2013-03-31 956.24 2,390.73 209.98
2012-12-31 998.48 2,339.41 185.94
2012-09-30 1,028.91 2,312.21 146.39
2012-06-30 1,060.90 2,318.94 139.47
  • Ashford Hospitality Trust's level of debt (885.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (242.4% vs 885.2% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Ashford Hospitality Trust has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Ashford Hospitality Trust has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 11.3% per year.
X
Financial health checks
We assess Ashford Hospitality Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ashford Hospitality Trust has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AHT.PRH Dividends

 What is Ashford Hospitality Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.06%
Current annual income from Ashford Hospitality Trust dividends. Estimated to be 9.14% next year.
If you bought $2,000 of Ashford Hospitality Trust shares you are expected to receive $181 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Ashford Hospitality Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Ashford Hospitality Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:AHT.PRH Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:AHT.PRH Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.49 2.00
2020-12-31 0.48 5.00
2019-12-31 0.48 4.00
NYSE:AHT.PRH Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-13 0.480 9.337
2018-12-10 0.480 10.217
2018-09-14 0.480 8.819
2018-06-05 0.480 6.724
2018-03-15 0.480 6.986
2017-12-11 0.480 7.543
2017-09-14 0.480 7.231
2017-06-14 0.480 7.727
2017-03-14 0.480 7.672
2016-12-12 0.480 6.503
2016-09-15 0.480 7.685
2016-06-14 0.480 8.015
2016-03-14 0.480 8.606
2015-12-10 0.480 8.644
2015-09-15 0.480 7.083
2015-06-15 0.480 5.795
2015-03-13 0.480 5.230
2014-12-15 0.480 4.575
2014-09-15 0.480 4.576
2014-06-13 0.480 4.180
2014-03-17 0.480 4.501
2013-12-16 0.480 5.181
2013-09-13 0.480 4.349
2013-06-14 0.480 4.053
2013-03-15 0.480 3.761
2012-12-17 0.480 4.221
2012-09-14 0.440 5.057
2012-06-15 0.440 5.359
2012-02-22 0.440 5.114
2011-12-15 0.440 5.132
2011-09-15 0.400 5.246
2011-06-15 0.400 4.175
2011-02-24 0.400 3.445
2010-08-06 0.000 0.000
2010-08-04 0.000 0.000
2010-05-07 0.000 0.000
2010-05-05 0.000 0.000
2009-12-15 0.000 0.000
2009-11-06 0.000 0.000
2009-11-04 0.000 0.000
2009-08-07 0.000 0.000
2009-08-05 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Ashford Hospitality Trust has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Ashford Hospitality Trust only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Ashford Hospitality Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (330x coverage).
X
Income/ dividend checks
We assess Ashford Hospitality Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ashford Hospitality Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ashford Hospitality Trust has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AHT.PRH Management

 What is the CEO of Ashford Hospitality Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Doug Kessler
COMPENSATION $2,969,759
AGE 57
TENURE AS CEO 2.3 years
CEO Bio

Mr. Douglas A. Kessler, also known as Doug, has been Senior Managing Director of Ashford, Inc. since March 12 2018. Mr. Kessler has been the Chief Executive Officer of Ashford Hospitality Trust, Inc. since February 21, 2017. He served as the President at Ashford, Inc. from April 2, 2014 to March 12, 2018. He served as the President at Ashford Hospitality Prime, Inc. since April 2013 until April 27, 2017. Mr. Kessler served as the President at Ashford Trust since January 2009. He has been the President of Ashford Hospitality Trust, Inc. from January 2009. He has spearheaded numerous key initiatives at Ashford Trust and is responsible for several billion dollars of capital transactions along with the growth of its asset base to in excess of $4 billion. He served as the Chief Operating Officer and Head of Acquisitions at Ashford Hospitality Trust, Inc. since May 2003. He has several years of experience in real estate acquisitions, development, sales, finance, asset management, operating companies and fund raising. From July 2002 to August 2003, he served as Managing Director/Chief Investment Officer of Remington Hotel Corporation, where he was responsible for capital raising, acquisitions and new business development. Mr. Kessler joined Remington Hotel Corporation in 2002. From 1993 to 2002, he worked at Goldman Sachs' Whitehall Real Estate Funds, where he assisted in the management of more than $11 billion of real estate (including $6 billion of hospitality investments) involving over 20 operating partner platforms worldwide. He worked for nine years at Whitehall. He co-led the formation of Goldman Sachs' real estate investment management operations in France. He served as a Director of Ashford Hospitality Prime, Inc. since April 2013 until April 27, 2017. He serves as a Director at Ashford Hospitality Trust, Inc. since January 19, 2013. In his nine years at Whitehall, he served on the boards or executive committees of several lodging companies, including Westin Hotels and Resorts and Strategic Hotel Capital. He has diverse real estate experience totaling nearly 30 years and is a Member of Urban Land Institute's Hotel Council and is a frequent speaker and panelist at lodging industry conferences including International Hotel Investment Forum, Americas Lodging Investment Summit and the NYU Lodging Conference. Mr. Kessler earned his Masters in Business Administration in 1988 and Bachelor of Arts in Economics from Stanford University in 1983.

CEO Compensation
  • Doug's compensation has been consistent with company performance over the past year.
  • Doug's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Ashford Hospitality Trust management team in years:

4
Average Tenure
49
Average Age
  • The tenure for the Ashford Hospitality Trust management team is about average.
Management Team

Monty Bennett

TITLE
Founder & Chairman of the Board
COMPENSATION
$3M
AGE
52

Doug Kessler

TITLE
President & CEO
COMPENSATION
$3M
AGE
57
TENURE
2.3 yrs

Deric Eubanks

TITLE
CFO & Treasurer
COMPENSATION
$1M
AGE
42
TENURE
4.9 yrs

Jeremy Welter

TITLE
Chief Operating Officer
COMPENSATION
$1M
AGE
41
TENURE
1.2 yrs

Mark Nunneley

TITLE
Chief Accounting Officer
COMPENSATION
$713K
AGE
61
TENURE
16 yrs

J. Hays

TITLE
Chief Strategy Officer
COMPENSATION
$1M
AGE
40
TENURE
4 yrs

Jordan Jennings

TITLE
Manager of Investor Relations

Rob Haiman

TITLE
Executive VP
AGE
49

Chris Batchelor

TITLE
President of RED Hospitality & Leisure

Larry Doyle

TITLE
Senior Vice President of Asset Management
Board of Directors Tenure

Average tenure and age of the Ashford Hospitality Trust board of directors in years:

5.9
Average Tenure
56.5
Average Age
  • The tenure for the Ashford Hospitality Trust board of directors is about average.
Board of Directors

Monty Bennett

TITLE
Founder & Chairman of the Board
COMPENSATION
$3M
AGE
52
TENURE
6.3 yrs

Archie Bennett

TITLE
Chairman Emeritus
AGE
80
TENURE
6.3 yrs

Alan Tallis

TITLE
Independent Director
COMPENSATION
$264K
AGE
71
TENURE
6.3 yrs

Kamal Jafarnia

TITLE
Independent Director
COMPENSATION
$198K
AGE
51
TENURE
6.3 yrs

Amish Gupta

TITLE
Independent Director
COMPENSATION
$240K
AGE
38
TENURE
5 yrs

Sheri Pantermuehl

TITLE
Director
COMPENSATION
$195K
AGE
61
TENURE
1 yrs

Benjamin Ansell

TITLE
Lead Independent Director
COMPENSATION
$231K
AGE
50
TENURE
5.4 yrs

Fred Kleisner

TITLE
Independent Director
COMPENSATION
$189K
AGE
73
TENURE
2.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Ashford Hospitality Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ashford Hospitality Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AHT.PRH News

Simply Wall St News

AHT.PRH Company Info

Description

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing opportunistically in the hospitality industry in upper upscale, full-service hotels.

Details
Name: Ashford Hospitality Trust, Inc.
AHT.PRH
Exchange: NYSE
Founded: 1968
$653,486,471
$541,353,808
124,001,228
Website: http://www.ahtreit.com
Address: Ashford Hospitality Trust, Inc.
14185 Dallas Parkway,
Suite 1100,
Dallas,
Texas, 75254,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AHT Common Stock New York Stock Exchange US USD 26. Aug 2003
DB AHD Common Stock Deutsche Boerse AG DE EUR 26. Aug 2003
NYSE AHT.PRD PFD D 8.45%CUM New York Stock Exchange US USD 30. Jul 2007
NYSE AHT.PRF PFD CUM SER F New York Stock Exchange US USD 07. Jul 2016
NYSE AHT.PRG PFD SER G New York Stock Exchange US USD 14. Oct 2016
NYSE AHT.PRH 7.50% CUM PFD H New York Stock Exchange US USD 17. Aug 2017
NYSE AHT.PRI 7.5% PFD SER I New York Stock Exchange US USD 10. Nov 2017
Number of employees
Current staff
Staff numbers
0
Ashford Hospitality Trust employees.
Industry
Hotel and Resort REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 02:52
End of day share price update: 2019/05/15 00:00
Last estimates confirmation: 2019/05/13
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.