Market Overview

UPDATE: MLV & Co Reiterates On Ashford Hospitality Trust Following Completion Of Spin-Off

Share:

In a report published Friday, MLV & Co analyst Ryan Meliker reiterated a Buy rating on Ashford Hospitality Trust (NYSE: AHT), but lowered the price target from $14.00 to $13.00.

In the report, MLV & Co noted, “We are updating our estimates and price target to account for this week's completed spin-off of Ashford Inc. We continue to see material value in AHT, and while we believe investors may apply a larger discount to AHT than historically, given the new external management structure, we also believe AHT is a levered play on the lodging cycle—a dynamic that should result in outsized FFO growth and equity appreciation. Additionally, unlike other externally managed REITs, with 20% insider ownership, management is highly aligned with shareholders. As such, we reiterate our BUY on AHT but lower our price target by $1, to $13, to account for the AINC spin-off.”

Ashford Hospitality Trust closed on Thursday at $10.28.

Latest Ratings for AHT

DateFirmActionFromTo
Jun 2019DowngradesBuyNeutral
Dec 2018MaintainsNeutralNeutral
Nov 2018MaintainsBuyBuy

View More Analyst Ratings for AHT
View the Latest Analyst Ratings

Posted-In: MLV & Co Ryan MelikerAnalyst Color Price Target Analyst Ratings

 

Related Articles (AHT)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
ELMDDougherty & Co.Initiates Coverage On12.0
MRNSCantor FitzgeraldAssumes7.0
MNRLCapital One FinancialInitiates Coverage On23.0
SONVertical GroupUpgrades
UNPMorgan StanleyMaintains136.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

UPDATE: Bank Of America Reiterates On Catalent On Operationally Solid F1Q

Morning Market Losers