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Ashford Hospitality Trust, Inc.(AHT)Earnings, Financials & Key Ratios
AHT•NYSE•REIT / Real Estate
$2.95
$19M mkt cap·Price updated May 6, 2026
AboutAshford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.Show more
- Revenue$1.1B-5.8%
- FFO-$39M-141.7%
- FFO/Share-6.45-132.8%
- FFO Payout0%-100.0%
- FFO per Share-6.45-132.8%
- NOI Margin-0.57%-102.8%
- FFO Margin-3.49%-144.2%
- ROA-6%-229.5%
- Debt/Assets103.14%+21.1%
- Net Debt/EBITDA14.20+126.8%
- Book Value/Share-62.48-38.8%
AHT Key Insights
Ashford Hospitality Trust, Inc. (AHT) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y profit CAGR of 19.9%
✗Weaknesses
- ✗Weak Piotroski F-Score: 3/9
- ✗FFO declining 141.7% TTM
- ✗Weak momentum: RS Rating 17 (bottom 17%)
- ✗Low NOI margin of -0.6%
- ✗Shares diluted 26.9% in last year
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
AHT Price & Volume
Ashford Hospitality Trust, Inc. (AHT) stock price & volume — 10-year historical chart
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AHT Growth Metrics
Ashford Hospitality Trust, Inc. (AHT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-1.89%
5 Years16.79%
3 Years-3.81%
TTM-5.81%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-198.24%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-41.42%
Return on Capital
10 Years1.27%
5 Years2.69%
3 Years4.94%
Last Year2.61%
AHT Peer Comparison
Ashford Hospitality Trust, Inc. (AHT) competitors in Upper-upscale full-service hotels — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 PK | 2.29B | 11.37 | -8.01 | -2.23% | -8.49% | -6.71% | 4.46% | 1.38 |
 RHP | 6.82B | 108.14 | 28.68 | 10.15% | 9.93% | 23.77% | 3.41% | 3.54 |
 SHO | 1.9B | 10.02 | 236.88 | 6% | 3.58% | 1.81% | 4.15% | 0.48 |
 DRH | 2.17B | 10.64 | 24.18 | -0.83% | 9.26% | 6.85% | 7.48% | 0.81 |
 APLE | 3.21B | 13.62 | 18.41 | -1.33% | 12.08% | 5.43% | 8.8% | 0.56 |
 XHR | 1.54B | 16.73 | 26.14 | 3.8% | 6.2% | 5.53% | 5.83% | 1.21 |
 HST | 14.65B | 21.31 | 21.53 | 7.02% | 12.43% | 10.83% | 6.48% | 0.83 |
 CLDT | 419.6M | 8.92 | 63.71 | -6.98% | 5.1% | 1.92% | 9.43% | 0.46 |
Compare AHT vs Peers
Ashford Hospitality Trust, Inc. (AHT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
AHT Income Statement
Ashford Hospitality Trust, Inc. (AHT) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.44B | 1.43B | 1.5B | 508.24M | 805.41M | 1.24B | 1.37B | 1.17B | 1.1B |
| Revenue Growth % | -3.54% | -0.59% | 5.03% | -66.18% | 58.47% | 54.07% | 10.21% | -14.26% | -5.81% |
| Property Operating Expenses | 1.02B | 1.05B | 1.1B | 564.39M | 697.02M | 953.23M | 1.04B | 938.07M | 1.11B |
| Net Operating Income (NOI) | 416.27M▲ 0% | 382.73M▼ 8.1% | 402.34M▲ 5.1% | -56.15M▼ 114.0% | 108.39M▲ 293.0% | 287.63M▲ 165.4% | 322.94M▲ 12.3% | 234.39M▼ 27.4% | -6.26M▼ 102.7% |
| NOI Margin % | 28.92% | 26.75% | 26.77% | -11.05% | 13.46% | 23.18% | 23.61% | 19.99% | -0.57% |
| Operating Expenses | 271.1M | 269.39M | 287.61M | 409.21M | 233.56M | 211.38M | 192.5M | -24.81M | -66.13M |
| G&A Expenses | 20.79M | 19.43M | 11.11M | 28.05M | 16.15M | 9.88M | 16.18M | 24.66M | 20.77M |
| EBITDA | 1.44B | 1.41B | 383.48M | -212.91M | 93.81M | 278.15M | 318.25M | 411.98M | 201.16M |
| EBITDA Margin % | 99.88% | 98.69% | 25.52% | -41.89% | 11.65% | 22.42% | 23.27% | 35.14% | 18.21% |
| Depreciation & Amortization | 1.3B | 1.32B | 268.75M | 252.46M | 218.98M | 201.9M | 187.81M | 152.78M | 141.29M |
| D&A / Revenue % | 90.5% | 92.38% | 17.88% | 49.67% | 27.19% | 16.27% | 13.73% | 13.03% | 12.79% |
| Operating Income | 135M▲ 0% | 90.41M▼ 33.0% | 114.73M▲ 26.9% | -465.37M▼ 505.6% | -125.17M▲ 73.1% | 76.25M▲ 160.9% | 130.44M▲ 71.1% | 259.21M▲ 98.7% | 59.86M▼ 76.9% |
| Operating Margin % | 9.38% | 6.32% | 7.63% | -91.56% | -15.54% | 6.15% | 9.54% | 22.11% | 5.42% |
| Interest Expense | 222.63M | 236.79M | 262M | 247.38M | 156.12M | 227M | 366.15M | 318.95M | 295.27M |
| Interest Coverage | 0.59x | 0.35x | 0.46x | -1.57x | -0.70x | 0.41x | 0.51x | 0.80x | 0.36x |
| Non-Operating Income | 17.38M | 7.16M | -5.81M | -78.19M | -16.19M | -16.02M | -55.87M | 4.27M | -47.1M |
| Pretax Income | -90.98M▲ 0% | -153.53M▼ 68.8% | -141.46M▲ 7.9% | -634.56M▼ 348.6% | -265.1M▲ 58.2% | -134.72M▲ 49.2% | -179.83M▼ 33.5% | -64.01M▲ 64.4% | -188.3M▼ 194.2% |
| Pretax Margin % | -6.32% | -10.73% | -9.41% | -124.85% | -32.91% | -10.86% | -13.15% | -5.46% | -17.05% |
| Income Tax | -2.22M | 2.78M | 1.22M | -1.33M | 5.95M | 6.34M | 900K | 997K | 143K |
| Effective Tax Rate % | 2.44% | -1.81% | -0.86% | 0.21% | -2.24% | -4.7% | -0.5% | -1.56% | -0.08% |
| Net Income | -67.01M▲ 0% | -126.97M▼ 89.5% | -113.64M▲ 10.5% | -543.88M▼ 378.6% | -267M▲ 50.9% | -139.82M▲ 47.6% | -178.49M▼ 27.7% | -60.3M▲ 66.2% | -179.84M▼ 198.2% |
| Net Margin % | -4.66% | -8.87% | -7.56% | -107.01% | -33.15% | -11.27% | -13.05% | -5.14% | -16.28% |
| Net Income Growth % | -44.77% | -89.48% | 10.5% | -378.62% | 50.91% | 47.63% | -27.65% | 66.22% | -198.24% |
| Funds From Operations (FFO) | 1.24B▲ 0% | 1.19B▼ 3.3% | 155.11M▼ 87.0% | -291.42M▼ 287.9% | -48.02M▲ 83.5% | 62.07M▲ 229.3% | 9.32M▼ 85.0% | 92.48M▲ 892.4% | -38.54M▼ 141.7% |
| FFO Margin % | 85.85% | 83.5% | 10.32% | -57.34% | -5.96% | 5% | 0.68% | 7.89% | -3.49% |
| FFO Growth % | -2.76% | -3.31% | -87.02% | -287.88% | 83.52% | 229.26% | -84.99% | 892.44% | -141.68% |
| FFO per Share | 12977.94 | 12281.34 | 1553.64 | -1849.57 | -14.11 | 18.08 | 2.69 | 19.65 | -6.45 |
| FFO Payout Ratio % | 8.22% | 8.16% | 55.58% | -9.82% | -38.78% | 20.01% | 160.37% | 22.02% | 0% |
| EPS (Diluted) | -703.81▲ 0% | -1305.16▼ 85.4% | -1429.12▼ 9.5% | -4018.93▼ 181.2% | -79.64▲ 98.0% | -41.08▲ 48.4% | -5.17▲ 87.4% | -17.54▼ 239.3% | -31.54▼ 79.8% |
| EPS Growth % | -43.58% | -85.44% | -9.5% | -181.22% | 98.02% | 48.42% | 87.41% | -239.27% | -79.82% |
| EPS (Basic) | -703.81 | -1305.16 | -1429.12 | -4018.93 | -79.68 | -41.08 | -51.53 | -17.54 | -31.54 |
| Diluted Shares Outstanding | 95.21K | 97.28K | 99.84K | 157.56K | 3.4M | 3.43M | 3.46M | 4.71M | 5.97M |
AHT Balance Sheet
Ashford Hospitality Trust, Inc. (AHT) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 4.67B | 4.69B | 4.69B | 3.73B | 4.1B | 3.92B | 3.46B | 3.16B | 2.83B |
| Asset Growth % | -4.53% | 0.34% | 0.12% | -20.4% | 9.74% | -4.41% | -11.62% | -8.7% | -10.36% |
| Real Estate & Other Assets | 4.05B | 4.13B | 14.94M | 19.83M | 3.25B | 3.19B | 2.99B | 2.35B | 454.38M |
| PP&E (Net) | 4.04B | 4.11B | 4.16B | 3.47B | 44.58M | 43.92M | 44.05M | 43.78M | 0 |
| Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Total Current Assets | 602.1M | 544.65M | 498.15M | 238.1M | 789.16M | 663.25M | 414.73M | 758.55M | 282.08M |
| Cash & Equivalents | 354.81M | 319.21M | 262.64M | 92.91M | 592.11M | 417.06M | 165.23M | 112.91M | 66.35M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 154.48M | 140.58M | 191.19M | 120.73M | 99.53M | 141.96M | 158.46M | 196.32M | 179.4M |
| Intangible Assets | 9.94M | 9.82M | 797K | 797K | 797K | 797K | 0 | 0 | 0 |
| Total Liabilities | 3.92B | 4.15B | 4.35B | 3.99B | 4.08B | 4.04B | 3.69B | 3.37B | 3.21B |
| Total Debt | 3.7B | 3.93B | 4.16B | 3.77B | 3.93B | 3.9B | 3.1B | 2.69B | 2.92B |
| Net Debt | 3.34B | 3.61B | 3.9B | 3.68B | 3.34B | 3.48B | 2.94B | 2.58B | 2.86B |
| Long-Term Debt | 3.7B | 3.93B | 4.11B | 3.73B | 3.89B | 3.84B | 3.04B | 2.63B | 1.76B |
| Short-Term Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.08B |
| Capital Lease Obligations | 0 | 0 | 53.27M | 45.31M | 45.11M | 63.51M | 63.23M | 62.36M | 79.12M |
| Total Current Liabilities | 190.07M | 190.59M | 164.31M | 213.07M | 138.12M | 135.69M | 194.88M | 332.47M | 1.08B |
| Accounts Payable | 132.4M | 136.76M | 124.23M | 99.95M | 117.65M | 115.97M | 129.32M | 137.51M | 124.63M |
| Deferred Revenue | -2.67B | -669.23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 34.22M | 34.2M | 28.11M | 7.59M | 7.01M | 6.42M | 387.49M | 348.65M | 284.3M |
| Total Equity | 749.27M▲ 0% | 533.85M▼ 28.8% | 339.14M▼ 36.5% | -260.5M▼ 176.8% | 20.09M▲ 107.7% | -126.79M▼ 731.2% | -224.28M▼ 76.9% | -211.79M▲ 5.6% | -373.24M▼ 76.2% |
| Equity Growth % | -19.01% | -28.75% | -36.47% | -176.81% | 107.71% | -731.18% | -76.89% | 5.57% | -76.24% |
| Shareholders Equity | 632.5M | 452.49M | 268.76M | -283.62M | -2.65M | -148.34M | -261.14M | -247.7M | -409.27M |
| Minority Interest | 116.77M | 81.36M | 70.37M | 23.12M | 22.74M | 21.55M | 36.87M | 35.91M | 36.03M |
| Common Stock | 974K | 1.01M | 102K | 64K | 345K | 345K | 37K | 56K | 65K |
| Additional Paid-in Capital | 1.78B | 1.81B | 1.83B | 1.81B | 2.38B | 2.38B | 2.38B | 2.39B | 2.4B |
| Retained Earnings | -1.15B | -1.36B | -1.56B | -2.09B | -2.38B | -2.53B | -2.73B | -2.81B | -3.03B |
| Preferred Stock | 226K | 226K | 226K | 152K | 65K | 2.11M | 84.82M | 171.6M | 217.14M |
| Return on Assets (ROA) | -1.4% | -2.71% | -2.42% | -12.91% | -6.82% | -3.49% | -4.84% | -1.82% | -6% |
| Return on Equity (ROE) | -8% | -19.79% | -26.03% | -1383.35% | -1329.18% | - | - | - | - |
| Debt / Assets | 79.15% | 83.81% | 88.67% | 101.07% | 95.97% | 99.61% | 89.66% | 85.15% | 103.14% |
| Debt / Equity | 4.93x | 7.36x | 12.27x | - | 195.78x | - | - | - | - |
| Net Debt / EBITDA | 2.32x | 2.56x | 10.16x | - | 35.61x | 12.53x | 9.23x | 6.26x | 14.20x |
| Book Value per Share | 7869.88 | 5487.75 | 3396.90 | -1653.36 | 5.90 | -36.92 | -64.75 | -45.00 | -62.48 |
AHT Cash Flow Statement
Ashford Hospitality Trust, Inc. (AHT) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 207.38M | 181.56M | 177.21M | -149.53M | -144.19M | 39.22M | 14.39M | -23.59M | 49.28M |
| Operating CF Growth % | 18.47% | -12.45% | -2.4% | -184.38% | 3.57% | 127.2% | -63.31% | -263.95% | 308.9% |
| Operating CF / Revenue % | 14.41% | 12.69% | 11.79% | -29.42% | -17.9% | 3.16% | 1.05% | -2.01% | 4.46% |
| Net Income | -88.76M | -156.31M | -142.68M | -633.22M | -271.05M | -141.06M | -178.49M | -65.01M | -179.84M |
| Depreciation & Amortization | 246.49M | 258.22M | 268.75M | 252.46M | 218.98M | 201.9M | 187.81M | 152.62M | 140.15M |
| Stock-Based Compensation | 12.29M | 26.94M | 19.72M | 10.75M | 10.1M | 6M | 4.03M | 2.1M | -761K |
| Other Non-Cash Items | 46.23M | 60.64M | 40.85M | 65.09M | -27.66M | -2.13M | -32.84M | -176.1M | 47.38M |
| Working Capital Changes | -11.19M | -8.07M | -9.27M | 156.45M | -74.6M | -25.43M | 33.91M | 62.79M | 42.6M |
| Cash from Investing | -63.88M | -329.63M | -253.19M | -7.6M | -34.04M | -70.33M | -89.75M | 191.28M | 190.76M |
| Acquisitions (Net) | -984K | -667K | 11.14M | -1.11M | -9M | 1.93M | 0 | 0 | 0 |
| Purchase of Investments | -54.79M | -12.23M | -4.21M | -430K | 0 | -9.13M | 0 | 0 | 0 |
| Sale of Investments | 50.94M | 16.41M | 25.2M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -58.82M | -332.82M | -284.86M | -7.17M | -24.95M | 12.68M | -89.15M | 191.48M | 190.76M |
| Cash from Financing | -163.9M | 115.81M | 34.38M | -73.76M | 702.56M | -101.51M | -172.13M | -258.75M | -179.17M |
| Dividends Paid | -101.59M | -97.44M | -86.21M | -28.62M | -18.62M | -12.42M | -14.94M | -20.36M | -23.96M |
| Common Dividends | -101.59M | -97.44M | -86.21M | -28.62M | -18.62M | -12.42M | -14.94M | -20.36M | 0 |
| Debt Issuance (Net) | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K |
| Share Repurchases | -219.7M | -1.6M | -1.03M | -399K | -46K | -316K | -168K | -49K | -872K |
| Other Financing | -777K | -42.56M | -10.82M | -26.77M | -29.51M | -40.55M | 24.78M | -7.07M | 5.43M |
| Net Change in Cash | -20.4M▲ 0% | -32.26M▼ 58.1% | -41.6M▼ 29.0% | -230.89M▼ 455.0% | 524.33M▲ 327.1% | -132.62M▼ 125.3% | -247.49M▼ 86.6% | -91.06M▲ 63.2% | 3.12M▲ 103.4% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -57.75M |
| Cash at Beginning | 492.47M | 472.07M | 439.81M | 398.21M | 167.31M | 691.64M | 559.03M | 311.53M | 212.6M |
| Cash at End | 472.07M | 439.81M | 398.21M | 167.31M | 691.64M | 559.03M | 311.53M | 220.47M | 215.72M |
| Free Cash Flow | 207.16M▲ 0% | 181.23M▼ 12.5% | 176.73M▼ 2.5% | -149.53M▼ 184.6% | -144.28M▲ 3.5% | -64.53M▲ 55.3% | 13.79M▲ 121.4% | -23.79M▼ 272.5% | -21.87M▲ 8.1% |
| FCF Growth % | 18.36% | -12.52% | -2.48% | -184.61% | 3.51% | 55.28% | 121.37% | -272.52% | 8.09% |
| FCF / Revenue % | 14.39% | 12.67% | 11.76% | -29.42% | -17.91% | -5.2% | 1.01% | -2.03% | -1.98% |
AHT Key Ratios
Ashford Hospitality Trust, Inc. (AHT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FFO per Share | 13.46K | 12.98K | 12.28K | 1.55K | -1.85K | -14.11 | 18.08 | 2.69 | 19.65 | -6.45 |
| FFO Payout Ratio | 7.2% | 8.22% | 8.16% | 55.58% | -9.82% | -38.78% | 20.01% | 160.37% | 22.02% | 0% |
| NOI Margin | 29.07% | 28.92% | 26.75% | 26.77% | -11.05% | 13.46% | 23.18% | 23.61% | 19.99% | -0.57% |
| Net Debt / EBITDA | 2.29x | 2.32x | 2.56x | 10.16x | - | 35.61x | 12.53x | 9.23x | 6.26x | 14.20x |
| Debt / Assets | 76.12% | 79.15% | 83.81% | 88.67% | 101.07% | 95.97% | 99.61% | 89.66% | 85.15% | 103.14% |
| Interest Coverage | 0.74x | 0.59x | 0.35x | 0.46x | -1.57x | -0.70x | 0.41x | 0.51x | 0.80x | 0.36x |
| Book Value / Share | 9.8K | 7.87K | 5.49K | 3.4K | -1.65K | 5.9 | -36.92 | -64.75 | -45 | -62.48 |
| Revenue Growth | 11.6% | -3.54% | -0.59% | 5.03% | -66.18% | 58.47% | 54.07% | 10.21% | -14.26% | -5.81% |
AHT SEC Filings & Documents
Ashford Hospitality Trust, Inc. (AHT) SEC filings — annual & quarterly reports (10-K, 10-Q)
AHT Frequently Asked Questions
Ashford Hospitality Trust, Inc. (AHT) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Ashford Hospitality Trust, Inc. (AHT) reported $1.10B in revenue for fiscal year 2025. This represents a 2950% increase from $36.2M in 2001.
Ashford Hospitality Trust, Inc. (AHT) saw revenue decline by 5.8% over the past year.
Ashford Hospitality Trust, Inc. (AHT) reported a net loss of $179.8M for fiscal year 2025.
Dividend & Returns
Yes, Ashford Hospitality Trust, Inc. (AHT) pays a dividend with a yield of 100.00%. This makes it attractive for income-focused investors.
Industry Metrics
Ashford Hospitality Trust, Inc. (AHT) generated Funds From Operations (FFO) of $-38.6M in the trailing twelve months. FFO is the primary profitability metric for REITs.
Ashford Hospitality Trust, Inc. (AHT) offers a 100.00% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
Explore More AHT
Ashford Hospitality Trust, Inc. (AHT) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
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Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates