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Ashford Hospitality Trust, Inc. AHT recently closed the sale of the 315-room Courtyard Boston Downtown located in Boston, MA, for $123 million ($390,500 per key).
This sale will deleverage its BAML Highland Pool loan and also result in significant capital expenditure savings going forward.
Per Stephen Zsigray, president and CEO of Ashford, "We are encouraged by the improved sentiment we are seeing in both the transaction and financing markets and the progress we are making with our recently announced GRO AHT initiative as evidenced by the strong revenue growth we achieved in December."
AHT: In a Nutshell
As Ashford moves closer to addressing its strategic financing challenges and realizes gains from its repositioning efforts, it demonstrates a clear focus on creating value for shareholders.
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 45.8%, outperforming the industry’s decline of 13.5%.
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Other Stocks to Consider
Some 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 $2.68, which suggests year-over-year growth of 2.3%.
The Zacks Consensus Estimate for SL Green’s 2024 FFO per share stands at $7.78, which indicates an increase of 57.5% 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.
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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 Report