Ashford Hospitality Trust, Inc. (NYSE: AHT) Shares slumped After Poor Earnings

The hotel owner of Ashford Hospitality Trust, Inc. (NYSE:AHT) today reported that the funds from operations went down in the 2nd quarter as the company had incurred many one-time items however its adjusted income matched with the Wall Street estimates.

The real estate investment trust reported that the funds from operations, or FFO, amounted to a loss of $1.4 million in the quarter ending on 30th June in comparison with FFO of $38.4 million earned in the previous year.

In order to adjust the loss on derivatives, the company bought back 5.9 million shares of its preferred stock and other special items, the company’s FFO for the quarter was $51.6 million, or 66 cents a share.

According to FactSet, analysts on an average expected, FFO of 66 cents a share.

The Quarterly revenue of the company went up to $203.1 million, from $217.6 million earned in the previous year, but fell short of the analysts’ forecast of $243.3 million in revenue.

Ashford recorded a loss during the quarter of $29.1 million, or 49 cents a share, in comparison to a profit of $2 million, or 6 cents a share, earned in the previous year quarter.

Revenue generated per available room for hotels went up by 7.2% during the quarter.

The shares value of the company ended the regular session up by 83 cents, or 8.5%, to $10.65.


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