PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 4:08 PM
| This Slide: #214 of 609 |
Slide #214. Ashford Hospitality Trust, Inc. — Preferred Stock Offering
Company:
Ashford Hospitality Trust, Inc. (NYSE:AHT)
Date announced:
11/8/2017
Shares Offered:
5,400,000
Date of Pricing:
11/8/2017
Price Per Share:
$25.00
Preferred Stock Offering Details:
Ashford Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the "Company") announced today that it has priced its underwritten public offering of 5,400,000 shares of 7.50% Series I Cumulative Preferred Stock (the "Preferred Stock") at $25.00 per share. Dividends on the Preferred Stock will accrue at a rate of 7.50% per annum on the liquidation preference of $25.00 per share. Settlement of the offering is expected to occur on or about November 17, 2017. The underwriters have been granted an option to purchase an additional 810,000 shares as part of this offering.
Ashford Hospitality Trust is a real estate investment trust focused on investing in hotels in the U.S. Co. owns its lodging investments and conducts its business through Ashford Hospitality Limited Partnership, its operating partnership. Ashford OP General Partner LLC, a wholly-owned subsidiary of Co., serves as the sole general partner of Co.'s operating partnership. Co.'s hotel properties are primarily branded under the brands of Hilton, Hyatt, Marriott and Intercontinental Hotel Group. Co. is advised by its subsidiary, Ashford Hospitality Advisors LLC (Ashford LLC), through an advisory agreement. All of the hotel properties in Co.'s portfolio are asset-managed by Ashford LLC.
Preferreds: AHT.PRA, AHT.PRD, AHT.PRE, AHT.PRF, AHT.PRG, AHT.PRH, AHT.PRI
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