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Valued as a REIT (property company): Price to FFO.
ACCE opinionAshford Hospitality Trust Inc Common Stock (AHT)
Fair value
Not available
ACCE price target
$2.20
Rating
Not rated
Horizon
12 months
ACCE price target published on 22 Oct 2026, 01:52 CEST; previously $3.36 since 15 Oct 2026, 00:00 CEST.
Price used: $2.82 at the close on 23 Oct 2026, 22:00 CEST.
Models: Price to FFO.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
31
out of 100
Analysts
0% buy
1 covering
1-year return
-42.2%
Dividend yield
0.00%
Ashford Hospitality Trust Inc Common Stock in four questions
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Overview
ACCE thesis
Ashford Hospitality Trust owns and manages a portfolio of select-service and full-service hotels in the United States, operating under franchise flags from major brands and earning room, food and beverage revenue from them. The thesis rests on a levered hotel portfolio that could re-rate if travel demand holds and the balance sheet can be stabilised, but the data here argues against treating that as a near-term story. Revenue fell 9.5% over the latest period, and a return on equity of -2,260% shows how far the equity has been eroded by losses and debt, leaving a market capitalisation of about $12 million. The 1.7x forward P/E is only meaningful if forward earnings are real, and with a 29/100 score and no index membership, the name deserves a deeper look only as a distressed-balance-sheet case, with the debt maturity schedule and any refinancing or restructuring terms as the first questions.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
severe
Negative free cash flow
Free cash flow was $-15.7M against a $17M market cap, and debt-to-equity is -7.14. A company burning cash this heavily relative to its equity value carries real solvency risk.
high
Revenue shrinking year on year
Revenue fell 9.5% year on year and the company posted a -6.1% net margin, so the business is contracting while still unprofitable.
moderate
Price above ACCE target
The stock trades 28.2% above the ACCE price target of $2.20, with the current price at $2.82. Our target sits below the market price.
AI research notes
AI-assisted·How I use AIWritten Oct 23, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 16.8% a year on average over five years, showing the business expanded well before the recent slowdown.
Latest quarterly earnings beat expectations by 287.0%, with earnings per share of 2.67 against 0.69 expected.
Why it could disappoint
Debt to equity of -7.14 means negative book equity, leaving common shareholders as a thin residual claim behind heavy debt.
Free cash flow was negative $16M over the last twelve months, so the business is burning cash rather than generating it.
Revenue fell 9.5% year over year and the net margin is -6.1%, so the core business is shrinking and loss-making.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 3, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
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Where AHT's valuation models land
Price
$2.82
Model fair valueConfidence: medium
$10.45
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