Ashford Hospitality Trust Inc. (NYSE:AHT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Ashford Hospitality Trust Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 7.14% to $0.39 in the quarter versus EPS of $0.42 in the year-earlier quarter.
Revenue: Rose 2.3% to $240.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ashford Hospitality Trust Inc. reported adjusted EPS income of $0.39 per share. By that measure, the company beat the mean analyst estimate of $0.38. It beat the average revenue estimate of $238.71 million.
Quoting Management: “We are very pleased to announce this successful refinancing of our only remaining debt maturity in 2013, which is consistent with our practice of proactively managing our debt maturity schedule” said Monty J. Bennett, Chairman and Chief Executive Officer of Ashford Hospitality Trust. “Through this refinancing, we were able to take out significant cash proceeds, strengthen our liquidity position while continuing to further extend our debt maturities. We continue to actively seek opportunities to maximize shareholder value.”
Key Stats (on next page)…