Ashford Hospitality Announces Preliminary Q4 2024 Results

Ashford Hospitality Trust, Inc. AHT recently reported its preliminary results for the fourth quarter of 2024.For the fourth quarter of 2024, this Dallas, TX-based real estate investment trust (REIT) anticipates reporting an occupancy of around 66%, with average daily rate of nearly $190, resulting in revenue per available room (RevPAR) of approximately $126. This comparable RevPAR shows an estimated year-over-year growth of 3%.Moreover, comparable RevPAR increased approximately 4.5%, 0.4% and 3.8% for October, November and December 2024, respectively, year over year.As previously stated, the company will terminate its offering of Series J and Series K non-traded preferred stock on March 31, 2025. Since initiating the offering in 2022, it generated approximately $185 million in gross proceeds from the sale of its Series J and Series K non-traded preferred stock. As of Dec. 31, 2024, the company has 6,799,638 shares of its Series J non-traded preferred stock outstanding and 601,175 shares of its Series K non-traded preferred stock outstanding.Per Stephen Zsigray, president and CEO of Ashford Trust, "With strong corporate and group demand, our high-quality, geographically diverse portfolio continues to deliver exceptional results. Our heightened focus on growing ancillary revenue streams under our recently announced GRO AHT initiative is already yielding impressive results, with total hotel revenue increasing approximately 4.4% in the fourth quarter and 6.9% in the month of December. As we continue to execute against our GRO AHT strategy and as we approach the repayment of our corporate strategic financing, we're excited to begin the next chapter for Ashford Trust."Wrapping UpAshford Hospitality focuses on investing predominantly in upper upscale, full-service hotels. The company’s assets in the market are well-positioned to capitalize on favorable market conditions while achieving its financial and operational objectives. AHT is expected to grow in the near term as it continues to execute its GRO AHT initiative to drive outsized EBITDA growth and improve shareholder value.Over the past three months, shares of this Zacks Rank #1 (Strong Buy) company have rallied 36.5%, outperforming the industry’s fall of 13.3%. Image Source: Zacks Investment Research Other Stocks to ConsiderSome other top-ranked stocks from the broader REIT sector are Cousins Properties CUZ and SL Green Realty SLG, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Cousins Properties’ 2024 FFO per share is pinned at $1.73, which suggests year-over-year growth of 2.3%.The Zacks Consensus Estimate for SL Green’s 2024 FFO per share stands at $7.83, which indicates an increase of 58.5% from the year-ago period.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cousins Properties Incorporated (CUZ): Free Stock Analysis Report SL Green Realty Corporation (SLG): Free Stock Analysis Report Ashford Hospitality Trust Inc (AHT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks