Janney Montgomery Scott Reiterates Neutral on Ashford Hospitality Trust (AHT) Following 3Q

November 7, 2016 7:39 AM EST
Get Alerts AHT Hot Sheet
Price: $7.79 +4.56%

Rating Summary:
    8 Buy, 9 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 31 | New: 25
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Janney Montgomery Scott maintained a Neutral rating and $6.25 price target on Ashford Hospitality Trust (NYSE: AHT) following the company's 3Q earnings report. AHT reported 3Q16 revenue of $371.9M and adjusted EBITDA of $109.5M. This was above consensus at $365.5M and $105.3M. On the call, management explained that valuations have declined since earlier this year, but have stabilized more recently.

Analyst Tyler Batory commented, "We have a NEUTRAL rating on AHT. We think the company has several positives including an attractive dividend yield, clear strategy, and a geographically diverse portfolio; however, would expect persistent industry headwinds to weigh on sentiment. We also expect RevPAR could start to struggle in the future given its exposure to fullservice hotels. Our fair value remains $6.25, which is 10.5x our 2017 EBITDA."

For an analyst ratings summary and ratings history on Ashford Hospitality Trust click here. For more ratings news on Ashford Hospitality Trust click here.

Shares of Ashford Hospitality Trust closed at $5.48 yesterday.



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