NYSE:AHT

Stock Analysis Report

Ashford Hospitality Trust

Executive Summary

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

Snowflake

Fundamentals

Fair value with mediocre balance sheet.

Risks

  • Ashford Hospitality Trust has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

How has Ashford Hospitality Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-12.6%

NYSE:AHT

-0.5%

US REITs

-1.6%

US Market


1 Year Return

-60.3%

NYSE:AHT

8.6%

US REITs

-3.0%

US Market

AHT underperformed the REITs industry which returned 8.5% over the past year.

AHT underperformed the Market in United States of America which returned -3% over the past year.


Share holder returns

AHTIndustryMarket
7 Day-12.6%-0.5%-1.6%
30 Day0.8%2.6%-5.7%
90 Day-48.2%2.2%0.2%
1 Year-56.3%-60.3%13.5%8.6%-0.8%-3.0%
3 Year-52.2%-62.5%24.8%8.5%38.1%29.1%
5 Year-63.6%-77.9%57.4%24.0%50.8%34.1%

Price Volatility Vs. Market

How volatile is Ashford Hospitality Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

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 Based on Earnings

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

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

Ashford Hospitality Trust is good value based on assets compared to the US REITs industry average.


Next Steps

Future Growth

How is Ashford Hospitality Trust expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

7.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Ashford Hospitality Trust's revenue is expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).

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 growth is positive but not above the United States of America market average.

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.

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.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Ashford Hospitality Trust will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.


Next Steps

Past Performance

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

-43.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

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.


Return on Equity

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.


Return on Assets

Ashford Hospitality Trust used its assets less efficiently than the US REITs industry average last year based on Return on Assets.


Return on Capital Employed

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.


Next Steps

Financial Health

How is Ashford Hospitality Trust's financial position?


Financial Position Analysis

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.


Debt to Equity History and Analysis

Ashford Hospitality Trust's level of debt (940.9%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (221.3% vs 940.9% today).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.1x debt.


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 9.9% per year.


Next Steps

Dividend

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

10.37%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Ashford Hospitality Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.52%).

Ashford Hospitality Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.93%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are not well covered by earnings (0.8x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be thoroughly covered by earnings (645.2x coverage).


Next Steps

Management

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

4.3yrs

Average management tenure


CEO

Doug Kessler (58yo)

2.5yrs

Tenure

US$2,969,759

Compensation

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 ...


CEO Compensation Analysis

Doug's remuneration is higher than average for companies of similar size in United States of America.

Doug's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

4.3yrs

Average Tenure

50yo

Average Age

The tenure for the Ashford Hospitality Trust management team is about average.


Board Age and Tenure

6.1yrs

Average Tenure

58yo

Average Age

The tenure for the Ashford Hospitality Trust board of directors is about average.


Insider Trading

More shares have been bought than sold by Ashford Hospitality Trust individual insiders in the past 3 months.


Recent Insider Transactions

BuyUS$72,50026 Jun 19
Benjamin Ansell
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares25,000
Max PriceUS$2.90
BuyUS$67,20019 Jun 19
Benjamin Ansell
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares20,000
Max PriceUS$3.36

Ownership Breakdown


Management Team

  • Doug Kessler (58yo)

    President & CEO

    • Tenure: 2.5yrs
    • Compensation: US$2.97m
  • Mark Nunneley (62yo)

    Chief Accounting Officer

    • Tenure: 16.3yrs
    • Compensation: US$712.74k
  • Monty Bennett (53yo)

    Founder & Chairman of the Board

    • Tenure: 6.6yrs
    • Compensation: US$2.97m
  • Rob Haiman (50yo)

    Executive VP

    • Tenure: 0.0yrs
  • Larry Doyle

    Senior Vice President of Asset Management

    • Tenure: 0.0yrs
  • Jeremy Welter (42yo)

    Chief Operating Officer

    • Tenure: 1.4yrs
    • Compensation: US$1.34m
  • Deric Eubanks (43yo)

    CFO & Treasurer

    • Tenure: 5.2yrs
    • Compensation: US$1.34m
  • J. Hays (41yo)

    Chief Strategy Officer

    • Tenure: 4.3yrs
    • Compensation: US$1.34m
  • Jordan Jennings

    Manager of Investor Relations

    • Tenure: 0.0yrs
  • Chris Batchelor

    President of RED Hospitality & Leisure

    • Tenure: 0.0yrs

Board Members

  • Fred Kleisner (74yo)

    Independent Director

    • Tenure: 2.9yrs
    • Compensation: US$188.79k
  • Alan Tallis (72yo)

    Independent Director

    • Tenure: 6.6yrs
    • Compensation: US$264.25k
  • Archie Bennett (81yo)

    Chairman Emeritus

    • Tenure: 6.6yrs
  • Monty Bennett (53yo)

    Founder & Chairman of the Board

    • Tenure: 6.6yrs
    • Compensation: US$2.97m
  • Kamal Jafarnia (52yo)

    Independent Director

    • Tenure: 6.6yrs
    • Compensation: US$198.15k
  • Amish Gupta (39yo)

    Independent Director

    • Tenure: 5.3yrs
    • Compensation: US$239.70k
  • Benjamin Ansell (51yo)

    Lead Independent Director

    • Tenure: 5.7yrs
    • Compensation: US$231.25k
  • Sheri Pantermuehl (63yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: US$195.45k

Company Information

Ashford Hospitality Trust, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Ashford Hospitality Trust, Inc.
  • Ticker: AHT
  • Exchange: NYSE
  • Founded: 1968
  • Industry: Hotel and Resort REITs
  • Sector: Real Estate
  • Implied Market Cap: US$317.626m
  • Market Cap: US$261.455m
  • Shares outstanding: 124.07m
  • Website: https://www.ahtreit.com

Number of Employees


Location

  • Ashford Hospitality Trust, Inc.
  • 14185 Dallas Parkway
  • Suite 1100
  • Dallas
  • Texas
  • 75254
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AHTNYSE (New York Stock Exchange)YesCommon StockUSUSDAug 2003
AHDDB (Deutsche Boerse AG)YesCommon StockDEEURAug 2003
AHT.PRDNYSE (New York Stock Exchange)PFD D 8.45%CUMUSUSDJul 2007
AHT.PRFNYSE (New York Stock Exchange)PFD CUM SER FUSUSDJul 2016
AHT.PRGNYSE (New York Stock Exchange)PFD SER GUSUSDOct 2016
AHT.PRHNYSE (New York Stock Exchange)7.50% CUM PFD HUSUSDAug 2017
AHT.PRINYSE (New York Stock Exchange)7.5% PFD SER IUSUSDNov 2017

Biography

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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/24 23:50
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.