The widening GAAP loss and massive impairment charges overshadow operational improvements. With preferred dividends suspended, no conference call, and 94% floating-rate debt, the stock faces continued distress. Monitor upcoming loan maturities—$1.08B due in 2026—and the pace of asset sales for liquidity signals.
Price Chart
Executive Summary
Ashford Hospitality Trust reported Q1 2026 comparable RevPAR growth of 3.3% and comparable Hotel EBITDA growth of 5.2%, but GAAP net loss attributable to common stockholders widened to $(71.1) million from $(27.8) million a year ago, driven by $112.6 million in impairment charges. The company continued aggressive asset sales, closing on seven hotels for $296.5 million in gross proceeds and signing agreements to sell six more for $154.6 million, but suspended preferred dividends and redemptions indefinitely due to tight liquidity and refinancing conditions.
Key Financial Metrics
Key Facts
- Comparable RevPAR increased 3.3% to $135.63, comparable Hotel EBITDA grew 5.2% to $73.2 million
- Net loss attributable to common stockholders was $(71.1) million or $(11.03) per diluted share, vs $(27.8) million or $(4.91) per share in Q1 2025
- Adjusted EBITDAre was $51.7 million, down from $61.7 million in Q1 2025
- AFFO per diluted share was breakeven, improving from $(0.98) in Q1 2025
- Recorded $112.6 million in impairment charges during the quarter
- Closed on 5 hotel sales for $238.5 million in Q1 and 2 more post-quarter for $58.0 million; signed definitive agreements to sell 6 additional hotels for $154.6 million
- Total debt of $2.4 billion, 94% floating-rate, with a blended average interest rate of 7.9%
- Suspended preferred dividends and redemptions indefinitely; no common dividend paid
- Total stockholders' deficit worsened to $(695.2) million from $(626.4) million at year-end 2025
- Company will not host an earnings conference call for Q1 2026
Financial Impact
Net loss widened by $43.3 million YoY to $(71.1) million; $112.6 million impairment charge; asset sales generated $296.5 million gross proceeds; AFFO improved to breakeven from $(0.98)/share
Risk Factors
- Massive $112.6M impairment charge signals further asset value deterioration
- Preferred dividends and redemptions suspended indefinitely, indicating severe liquidity constraints
- 94% floating-rate debt exposes the company to interest rate risk if the Fed pauses cuts
- Stockholders' deficit continues to widen, approaching $700 million negative equity
- Two mortgage loans in default with accruing default interest
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001232582-26-000107 |
| Document: aht-20260511.htm | 0001232582-26-000107 |
| Document: 0001232582-26-000107-index-headers.html | 0001232582-26-000107 |
| Document: 0001232582-26-000107-index.html | 0001232582-26-000107 |
| Document: 0001232582-26-000107.txt | 0001232582-26-000107 |
| 8-K Data (Synthetic) | 0001232582-26-000107 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 23, 2026 14w ago | 8-K | $3.22 $2.89 | ▼ −10.40% | ▼ −13.24% | $2.28 (−29.19%) |
Jun 16, 2026 15w ago | 8-K | $3.00 $3.16 | ▲ +5.33% | ▲ +2.18% | $2.28 (−24.00%) |
Jun 12, 2026 16w ago | 8-K | $3.06 $3.11 | ▼ −1.63% | ▼ −0.63% | $2.28 (+25.49%) |
Jun 4, 2026 17w ago | 8-K | $4.17 $6.13 | ▲ +46.93% | ▲ +42.66% | $2.28 (−45.35%) |
May 22, 2026 19w ago | 8-K | $4.90 $6.70 | ▲ +36.67% | ▲ +33.95% | $2.28 (−53.47%) |
May 11, 2026 20w ago | 8-K | $5.71 $5.02 | ▲ +12.22% | ▲ +16.60% | $2.28 (+60.09%) |
Feb 25, 2026 31w ago | 8-K | $3.00 $2.90 | ▲ +3.33% | ▲ +11.08% | $2.28 (+24.00%) |
Feb 25, 2026 31w ago | 8-K | $2.97 $2.90 | ▼ −2.36% | ▼ −9.31% | $2.28 (−23.23%) |
US Market Status
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