Home Financial Markets Ashford Hospitality Trust Inc. (AHT) surged in the premarket trading session; here’s...

Ashford Hospitality Trust Inc. (AHT) surged in the premarket trading session; here’s why

In the premarket trading session, Ashford Hospitality Trust Inc. (AHT) stock had surged by 2.12% to the price of $1.93 at the time of writing. AHT stock closed the previous session at $1.89. The AHT stock volume traded for 6.79 million shares. The average volume traded for the past 3 months has been 10 million. In the past year up-to-date, AHT stock had dropped by -73.88%. In the past week, the shares slumped down to -3.57%. Furthermore, in the past three and six months, the shares slumped to -41.49% and jumped up by 7.39% respectively. Ashford Hospitality Trust Inc. is currently valued in the market at $200.06 million and has 120.94 million outstanding shares.

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About Ashford Hospitality Trust

Ashford Hospitality Trust is a real estate company that specifically focuses on the real estate investment trust (REIT). The company’s operations are in the real-estate niche for investing majorly in high-class, upscale, full-service hotels.

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Aligning its business model and strategic operations with the modern digital era- that has drastically accelerated in the pandemic- Ashford developed an App that focuses on the hospitality REIT investor market as its platform. This app is named Ashford App and is available on both the Play store and Apple store.

Investors are looking forward to the Q1 2021 financial result update on 5th May

As the month of April is approaching an end, Ashford Hospitality has made no recent developments of news since the month’s start. However, we can look forward to the starting of the month of May. On 25­th March 2021, the company announced the date for releasing the financial results of the first quarter of 2021 which ended of 31st March. Ashford Hospitality has announced the financial results of Q1 2021 to be disclosed on 4th May 2021 after the market closes. A conference call will be hosted on 5th May at 12pm ET.

The financial highlights of Q4 2020

The company had previously released the earning call transcript for Q4 2020 on 25th February 2021. AHT stock had filed the 8-K form with the Securities and Exchange Commission on 24th February 2021 which is uploaded on their website.

The company is expected to still face some difficulties and challenges in the U.S hospitality industry; especially in the day-to-day operations of the hotel services. However, the news of the vaccine deployment has uplifted the economic activity status as businesses have started resuming. This has also reflected positively on the developments in the hospitality industry.

The company reported a net loss attributable to common stockholders of $70.5 million for the fourth quarter of 2020. AHT stock reported a negative $23.1 million for its EBITDA.  The cash utilization for Q4 2020 was around $18-$20 million which has dropped compared to the $37 million second quarter of 2020.

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Overall, Ashford Hospitality is looking forward to the resumption of hotel and hospitality services and operations further into 2021. They believe that the portfolio is stable enough to show increasing performance trends as the demand for lodgings return and increase throughout 2021.

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