Ashford Hospitality Trust, Inc. (NYSE: AHT) has disclosed its preliminary first-quarter results for 2024, highlighting key financial figures. According to the company's announcement, the preliminary estimated range of net income attributable to common stockholders for the first quarter of 2024 is approximately $66.4 million to $68.4 million, translating to $0.59 to $0.61 per share. Additionally, the range of Adjusted EBITDAre is reported to be $58.5 million to $60.5 million, with Adjusted FFO available to common stockholders and OP unitholders ranging from $(14.7) million to $(12.7) million.
The final results for the first quarter ending March 31, 2024, are scheduled for release on May 7, 2024, as previously outlined by the company.
Ashford Hospitality Trust is a real estate investment trust (REIT) primarily focusing on investments in upper upscale, full-service hotels.
The preliminary estimates provided by the company are based on management's assessment, incorporating preliminary hotel operating results, corporate-level expenses, and various subjective judgments and assumptions. However, the company cautions that these figures are subject to potential adjustments as the closing procedures for the quarter are yet to be finalized.
In a statement, Ashford Hospitality Trust emphasized the use of non-GAAP financial measures alongside GAAP presentations to enhance the understanding of operational results and facilitate comparisons with peer real estate investment trusts. The company urged stakeholders to refer to its most recent Annual Report on Form 10-K for detailed explanations on these non-GAAP measures.
Notably, the company's independent registered public accounting firm, BDO USA, P.C., has not audited or reviewed the preliminary estimated financial information, highlighting the provisional nature of the disclosed figures.
The press release also includes forward-looking statements, cautioning investors about the inherent risks and uncertainties that could impact actual results compared to the anticipated figures. Ashford Trust emphasized that forward-looking statements are subject to various unknown factors, including market trends, competition, and economic conditions.
Investors are advised to exercise caution and not overly rely on the preliminary estimated financial information provided by Ashford Hospitality Trust. The company underlines that these estimates do not represent a comprehensive overview of its financial position or performance for the first quarter of 2024, and actual results may vary.
The information contained in this announcement is sourced from Ashford Hospitality Trust, Inc., and investors are urged to consider the associated risks and uncertainties when evaluating the company's securities.