Home Equities Score Why Ashford Hospitality Trust, Inc (AHT) stock price fluctuated on Tuesday?

Why Ashford Hospitality Trust, Inc (AHT) stock price fluctuated on Tuesday?

Ashford Hospitality Trust, Inc (AHT) stock sink 10.42% on Tuesday, May 4, 2021, but it did some recovery in the after-markets and gain 5.65% to close the day at $3.18 per share.

AHT shares have plunged 57.60% over the last 12 months, and they have moved up by 59.26% in the past week. Over the past three months, the stock has gained 11.48%, while over the past six months, it has surged 133.33%.


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Let’s discuss its recent news

Q1 2021 Financial results announcement

Ashford Trust has reported its financial results for the first quarter after the market closes on Tuesday, May 4, 2021, and will host a conference call on Wednesday, May 5, 2021, at 12:00 p.m. ET.

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Q1 2021 financial highlights

  • Total revenue for the first quarter of 2021 was $115.83 million compared to $281.9 million for Q1 2020.
  • Net loss attributable to common stockholders was $91.6 million or $1.10 per diluted share for the first quarter of 2021 compared to $94.8 million or $9.40 per diluted share in Q1 2020.
  • Q1 2021 operating expenses were $185.8 million compared to $335.00 million in Q1 2020.
  • Adjusted EBITDA was $5.2 million in Q1 2021 compared to $47.4 million in Q1 2020.
  • The company had cash and cash equivalents of $225.4 million and restricted cash of $67.7 million at the end of the first quarter.

Q4 and FY 2020 financial results announcement

On February 24, 2021, Ashford Hospitality Trust released financial results for the fourth quarter and the full year ended December 31, 2020.

Q4 2020 highlights

  • Net loss attributable to common stockholders was $70.5 million or $2.29 per diluted share for the quarter.
  • Q4 2020 revenue was $508,238 thousand compared to $1.5 million in Q4 2019.
  • Adjusted EBITDA was $23.1 million for the fourth quarter of 2020.

FY2020 financial highlights

  • FY 2020 revenue was $90.3 million compared to $354.7 million in FY2019.
  • For the full year of 2020, the net loss attributable to common stockholders was $520.5 million or $33.00 per diluted share.
  • The adjusted EBITDA for the full year of 2020 was $54.9 million.
  • Ashford Hospitality trust had cash and cash equivalents of $92.9 million and restricted cash of $74.4 million on December 31, 2020.

Closing corporate financing

On January 15, 2021, Ashford Hospitality Trust, Inc. closed the previously announced strategic financing from funds managed by Oaktree Capital Management, L.P. The Company took $200 million on the financing at closing and has the option to draw down an additional $250 million.

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Conclusion

Well, the hospitality industry got the hardest hit due to the Covid-19 pandemic and AHT financial results are improved but financial numbers are still very low and not promising. In my opinion, the recent financial results are the reason behind its surge in the after-hours but it can go the other way around on Wednesday.

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