DALLAS, Sept. 15, 2016 /PRNewswire/ -- Ashford
Hospitality Trust, Inc. (NYSE: AHT) ("Ashford Trust" or the
"Company") announced today that its Board of Directors declared a
quarterly cash dividend of $0.12 per
diluted share for the Company's common stock for the third quarter
ending September 30, 2016. The
dividend, which equates to an annual rate of $0.48 per share, is payable on October 17, 2016, to shareholders of record as of
September 30, 2016.
The Board declared a quarterly cash dividend of $0.5344 per diluted share for the Company's 8.55%
Series A Cumulative Preferred Stock for the third quarter ending
September 30, 2016. The
dividend, which equates to an annual rate of $2.1375 per share, is payable on October 17, 2016, to shareholders of record as of
September 30, 2016.
The Board declared a quarterly cash dividend of $0.5281 per diluted share for the Company's 8.45%
Series D Cumulative Preferred Stock for the third quarter ending
September 30, 2016. The dividend,
which equates to an annual rate of $2.1125 per share, is payable on October 17, 2016, to shareholders of record as of
September 30, 2016.
The Board declared a dividend of $0.3995 per diluted share for the Company's
7.375% Series F Cumulative Preferred Stock for the third quarter
ending September 30, 2016. This
dividend is pro-rated for the number of days the Series F
Cumulative Preferred Stock was outstanding during the quarter.
The dividend, which equates to an annual rate of $1.8438 per share, is payable on October 17, 2016, to shareholders of record as of
September 30, 2016.
Ashford Hospitality Trust is a real estate investment trust
(REIT) focused on investing opportunistically in the hospitality
industry in upper upscale, full-service hotels.
Follow Chairman and CEO Monty
Bennett on Twitter at
www.twitter.com/MBennettAshford or @MBennettAshford.
Ashford has created an Ashford App for the hospitality REIT
investor community. The Ashford App is available for free
download at Apple's App Store and
the Google Play Store by searching "Ashford."
Certain statements and assumptions in this press release
contain or are based upon "forward-looking" information and are
being made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward looking
statements in this press release include, among others, statements
about the Company's strategy and future plans. These
forward-looking statements are subject to risks and
uncertainties. When we use the words "will likely result,"
"may," "anticipate," "estimate," "should," "expect," "believe,"
"intend," or similar expressions, we intend to identify
forward-looking statements. Such statements are subject to
numerous assumptions and uncertainties, many of which are outside
Ashford Trust's control.
These forward-looking statements are subject to known and
unknown risks and uncertainties, which could cause actual results
to differ materially from those anticipated, including, without
limitation: general volatility of the capital markets and the
market price of our common stock; changes in our business or
investment strategy; availability, terms and deployment of capital;
availability of qualified personnel; changes in our industry and
the market in which we operate, interest rates or the general
economy; and the degree and nature of our competition. These
and other risk factors are more fully discussed in Ashford Trust's
filings with the Securities and Exchange Commission. EBITDA
is defined as net income before interest, taxes, depreciation and
amortization. EBITDA yield is defined as trailing twelve
month EBITDA divided by the purchase price. A capitalization
rate is determined by dividing the property's annual net operating
income by the purchase price. Net operating income is the
property's funds from operations minus a capital expense reserve of
either 4% or 5% of gross revenues. Hotel EBITDA flow-through
is the change in Hotel EBITDA divided by the change in total
revenues. Hotel EBITDA Margin is Hotel EBITDA divided by
total revenues. Funds from operations ("FFO"), as defined by
the White Paper on FFO approved by the Board of Governors of the
National Association of Real Estate Investment Trusts ("NAREIT") in
April 2002, represents net income
(loss) computed in accordance with generally accepted accounting
principles ("GAAP"), excluding gains (or losses) from sales of
properties and extraordinary items as defined by GAAP, plus
depreciation and amortization of real estate assets, and net of
adjustments for the portion of these items related to
unconsolidated entities and joint ventures.
The forward-looking statements included in this press release
are only made as of the date of this press release. Investors
should not place undue reliance on these forward-looking
statements. We are not obligated to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or circumstances, changes in
expectations or otherwise.
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SOURCE Ashford Hospitality Trust, Inc.