Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Fri, May 20, 10:35 PM
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Slide #254. Ashford Hospitality Trust, Inc. — Preferred Stock Offering
Ashford Hospitality Trust, Inc. (NYSE:AHT)
Date of Pricing:
Price Per Share:
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 6,000,000 shares of 7.375% Series G Cumulative Preferred Stock (the "Preferred Stock") at $25.00 per share. Dividends on the Preferred Stock will accrue at a rate of 7.375% per annum on the liquidation preference of $25.00 per share. Settlement of the offering is expected to occur on or about October 18, 2016. The underwriters have been granted an option to purchase an additional 900,000 shares as part of this offering.
Ashford Hospitality Trust together is an externally-advised real estate investment trust focused on investing in hotels in U.S. Co. owns its lodging investments and conducts its business through Ashford Hospitality Limited Partnership, its operating partnership. 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. Co.'s hotel properties are primarily branded under the brands of Marriott, Hilton, Hyatt and Intercontinental Hotel Group.
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Buy (2.67 out of 4)
(ranked lower than approx. 91% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com