Why Shares of Ashford Hospitality Trust Are Down This Week
Shares of Ashford Hospitality Trust (NYSE: AHT) had fallen roughly 40% on the week as of 10:30 a.m. EDT Friday, after the company announced preliminary revenue per available room (RevPAR) for the second quarter of 2021, and a 1-for-10 reverse stock split.
Ashford, a real estate investment trust (REIT) that largely invests in upscale hotels, reported improving RevPAR in the second quarter. In June, RevPAR grew to $91.27, up 256% year over year, and up from $75.66 in May of this year. The numbers, however, are still below pre-pandemic RevPAR.
Source Fool.com
