ASHFORD HOSPITALITY TRUST INC AHT

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

Ashford Hospitality Trust, Inc., together with its subsidiaries is a REIT. While our portfolio currently consists of upscale hotels and upper upscale full-service hotels, our investment strategy is predominantly focused on investing in upper upscale full-service hotels in the United States that have revenue per available room ("RevPAR") generally less than twice the U.S. national average, and in all methods including direct real estate, equity and debt. We currently anticipate future investments will predominantly be in upper upscale hotels. We own our lodging investments and conduct our business through Ashford Hospitality Limited Partnership ("Ashford Trust OP"), our operating partnership. Ashford OP General Partner LLC, a wholly owned subsidiary of Ashford Trust, serves as the sole general partner of our operating partnership.

Last close 2.82 2026-10-23
Market cap $18.2M 2026-06-30 share count
52-week range 1.74 - 5.00

Valuation FY2025 figures against the last close

P/S0.0x
P/E—
P/FCF—
EV/EBITDA9.6x
Dividend yield131.3%
Diluted EPS-35.99

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.10B$1.17B$1.37B$1.24B$805.4M$508.2M$1.50B$1.43B$1.44B$1.49B
Cost of revenue ——————$952.7M$900.6M$907.3M$938.4M
Gross profit ——————$550.1M$530.2M$532.0M$553.6M
SG&A $20.8M$24.7M$16.2M$9.9M$16.2M$28.0M$11.1M$10.9M$13.3M$8.4M
Total operating expenses $1.11B$1.17B$1.25B$1.16B$932.0M$936.9M$1.41B$1.34B$1.30B$1.34B
Operating income $116.4M$259.2M$130.4M$76.3M-$125.2M-$465.4M$114.7M$90.4M$149.0M$187.3M
Interest expense ——$0$0$0$0$0———
Pre-tax income -$188.3M-$64.0M-$179.8M-$134.7M-$265.1M-$634.6M-$141.5M-$153.5M-$91.0M-$57.2M
Income tax $143.0K$997.0K$900.0K$6.3M$5.9M$1.3M$1.2M$2.8M$2.2M$1.5M
Net income -$179.8M-$60.3M-$178.5M-$139.8M-$267.0M-$543.9M-$113.6M-$127.0M-$67.0M-$46.3M
EPS, basic -35.99-17.54-56.11-44.61-12.37-329.97-157.74-17.52-1.30-0.95
EPS, diluted -35.99-17.54-56.11-44.61-12.43-329.97-157.74-17.52-1.30-0.95
Shares, diluted (wtd. avg.) 6.0M4.7M3.5M3.4M21.8M1.6M998,0009.7M95.2M94.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $66.1M$112.9M$165.2M$417.1M$592.1M$92.9M$262.6M$319.2M$354.8M$347.1M
Short-term investments ———————$21.8M$26.9M$53.2M
Inventory $3.6M$3.6M$3.7M$3.9M$3.3M$2.4M$4.3M$4.2M$4.2M$4.5M
Property, plant and equipment ————$3.23B$3.43B$4.11B$4.11B$4.04B$4.16B
Other intangibles $797.0K$797.0K$797.0K$797.0K$797.0K$797.0K$797.0K$9.8M$9.9M$10.1M
Total assets $2.83B$3.16B$3.46B$3.92B$4.10B$3.73B$4.69B$4.69B$4.67B$4.89B
Long-term debt $2.53B$2.63B$3.04B$3.84B$3.89B$3.73B$4.11B$3.93B$3.70B$3.72B
Total liabilities $3.21B$3.37B$3.69B$4.04B$4.08B$3.99B$4.35B$4.15B$3.92B$3.97B
Retained earnings -$3.03B-$2.81B-$2.73B-$2.53B-$2.38B-$2.09B-$1.56B-$1.36B-$1.15B-$974.0M
Total equity -$626.4M-$419.2M-$331.0M-$150.4M-$2.7M-$283.5M$269.3M$453.1M$633.1M$792.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$15.7M-$23.6M$14.4M$39.2M-$144.2M-$149.5M$177.2M$181.6M$207.4M$179.7M
Depreciation and amortisation $141.3M$152.8M$187.8M$201.8M$218.9M$252.8M$269.0M$258.5M$246.7M$243.9M
Stock-based compensation -$761.0K$2.1M$4.0M$6.0M$10.0M$10.7M$19.7M$26.9M$12.3M$9.7M
Capital expenditure $71.2M$108.0M$137.4M$103.8M$36.7M$46.2M$159.2M$207.3M$222.0M$204.0M
Investing cash flow $190.8M$191.3M-$89.8M-$70.3M-$34.0M-$7.6M-$253.2M-$329.6M-$63.9M-$21.9M
Financing cash flow -$179.2M-$258.8M-$172.1M-$101.5M$702.6M-$73.8M$34.4M$115.8M-$163.9M-$34.1M
Dividends paid $24.0M$20.4M$14.9M$12.4M$18.6M$28.6M$86.2M$97.4M$101.6M$91.5M
Buybacks $44.0K$49.0K$90.0K$316.0K$46.0K$399.0K$1.0M$1.6M$1.3M$729.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001232582-26-000067.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B Revenue, FY2016: 1.5B Gross profit, FY2016: 553.6M Net income, FY2016: -46.3M Revenue, FY2017: 1.4B Gross profit, FY2017: 532M Net income, FY2017: -67M Revenue, FY2018: 1.4B Gross profit, FY2018: 530.2M Net income, FY2018: -127M Revenue, FY2019: 1.5B Gross profit, FY2019: 550.1M Net income, FY2019: -113.6M Revenue, FY2020: 508.2M Net income, FY2020: -543.9M Revenue, FY2021: 805.4M Net income, FY2021: -267M Revenue, FY2022: 1.2B Net income, FY2022: -139.8M Revenue, FY2023: 1.4B Net income, FY2023: -178.5M Revenue, FY2024: 1.2B Net income, FY2024: -60.3M Revenue, FY2025: 1.1B Net income, FY2025: -179.8M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.49B $1.44B $1.43B $1.50B $508.2M $805.4M $1.24B $1.37B $1.17B $1.10B
Gross profit $553.6M $532.0M $530.2M $550.1M — — — — — —
Net income -$46.3M -$67.0M -$127.0M -$113.6M -$543.9M -$267.0M -$139.8M -$178.5M -$60.3M -$179.8M

Recent filings and events

  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Acquisition or disposal completed Item 2.01
  • Acquisition or disposal completed Item 2.01
  • Acquisition or disposal completed Item 2.01
  • Acquisition or disposal completed Item 2.01
  • Acquisition or disposal completed Item 2.01
  • Acquisition or disposal completed Item 2.01
  • Acquisition or disposal completed Item 2.01
  • Acquisition or disposal completed Item 2.01
  • Acquisition or disposal completed Item 2.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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