Rutabaga Capital Managementma Lowers stake in Ashford Hospitality Trust (AHT)

Ashford Hospitality Trust (AHT) : Rutabaga Capital Managementma reduced its stake in Ashford Hospitality Trust by 9.29% during the most recent quarter end. The investment management company now holds a total of 1,696,680 shares of Ashford Hospitality Trust which is valued at $9,738,943 after selling 173,711 shares in Ashford Hospitality Trust , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Ashford Hospitality Trust makes up approximately 1.69% of Rutabaga Capital Managementma’s portfolio.

Other Hedge Funds, Including , Mutual Of America Capital Management reduced its stake in AHT by selling 83,015 shares or 59.12% in the most recent quarter. The Hedge Fund company now holds 57,413 shares of AHT which is valued at $329,551. Ashford Hospitality Trust makes up approx 0.01% of Mutual Of America Capital Management’s portfolio.Daiwa Securities Group boosted its stake in AHT in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 2,900 shares of Ashford Hospitality Trust which is valued at $16,762. Simplex Trading added AHT to its portfolio by purchasing 6,184 company shares during the most recent quarter which is valued at $38,093.

Ashford Hospitality Trust opened for trading at $6.51 and hit $6.68 on the upside on Monday, eventually ending the session at $6.62, with a gain of 2.16% or 0.14 points. The heightened volatility saw the trading volume jump to 11,52,471 shares. Company has a market cap of $633 M.

On the company’s financial health, Ashford Hospitality Trust reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.54. The company had revenue of $410.70 million for the quarter, compared to analysts expectations of $403.74 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Ashford Hospitality Trust. Ashford Hospitality Trust was Downgraded by Credit Suisse to ” Neutral” on Jul 21, 2016.

Ashford Hospitality Trust Inc. (Ashford) together with its subsidiaries is a self-administered real estate investment trust (REIT) focused on investing in the hospitality industry. The Company is engaged in direct hotel investments within the hotel lodging industry. Ashford owns its lodging investments and conducts its business through Ashford Hospitality Limited Partnership (Ashford Trust OP). Its hotels are primarily operated under the brands of Hilton Hyatt Marriott Starwood and Intercontinental Hotels Group. Its hotels are located in the United States. The Company through Remington Lodging manages the Hampton Inn & Suites Gainesville hotel which has 124 guestrooms including 27 studio suites. The hotel’s amenities include 1700 square feet of meeting space a boardroom Saltwater Lap Pool and Spa Jump Start fitness center and on-site parking. Ashford OP General Partner LLC is a wholly owned subsidiary of the Company.

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