Ashford Hospitality Falls 8.1% On Public Offering News (AHT)

Shares of Ashford Hospitality Trust Inc. AHT are currently down 8.1% at $9.29 per share during Tuesday afternoon trading. The company announced early on Tuesday morning plans for an underwritten public offering of 7.5 million shares of its common stock at a price of $9.65 per share. Today's trading range for shares of Ashford Hospitality Trust Inc has been between $9.21 and $9.50 per share. The consensus price target of analysts covering the company's stock is $10.63 per share. Volume of 4.4 million shares is already far above the daily average volume of 322,000 shares. Ashford Hospitality Trust Inc. (AHT) is a self-administered real estate investment trust focused on investing in the hospitality industry across all segments and at all levels of the capital structure, including direct hotel investments, first mortgages, mezzanine loans and sale-leaseback transactions. Read more from Benzinga's Company news.