Ashford Hospitality Trust Inc. (NASDAQ: AHT) stock soared by 13.22% at last close and continues to gain by 8.76% at last check-in after-hour trading. There is no recent news available regarding this rise in AHT stock price. Ashford Hospitality is a real estate investment trust (REIT) that specializes in luxury, full-service hotels. In addition, AHT’s new Ashford App, which is available for free on the App Store, helps investors in the hospitality/REIT industry to connect.
Recent Past events
For a number of causes, shares of AHT have started to rise in recent months. AHT announced the completion of a large corporate funding contract in January. This $200 million transaction from Oaktree Capital Management L.P. also has the option to borrow an extra $250 million if necessary.
Robison Hayes, Ashford’s CEO, ensured that Ashford Hospitality is pleased to announce the completion of this strategic financing with Oaktree and believes that the relationship will benefit AHT in the future. AHT is looking forward to bringing their hotels back to profitability and concentrating on growth now that this critical funding has been completed and vaccine delivery has begun.
After the market closes on May 4th, Ashford will release its first-quarter earnings. It is important to understand and recognize the status of the entertainment and hospitality industries in order to comprehend AHT. Since Covid hammered these markets last year, several firms, including AHT, saw their stock prices plummet. However, as Hayes said, it appears that widespread vaccine delivery may have a substantial effect on AHT’s future and would help AHT to overcome the loss that AHT has faced during the previous year. The investors must be looking forward to the upcoming financial results for better understanding of AHT stock.