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Ashford Hospitality Trust, 9.00% Series E Cumulative Preferred Stock
Ticker Symbol: AHT-E* CUSIP: 044103505 Exchange: NYSE
* NOTE: This security is no longer trading as of 8/08/2016
Security has been Called for: Monday, August 8, 2016
July 8, 2016 -- Ashford Hospitality Trust, Inc. (NYSE: AHT announced today that it intends to redeem all of its issued and outstanding shares of 9.00% Series E Cumulative Preferred Stock (CUSIP No. 044103 505). All shares of Series E Preferred Stock will be redeemed in accordance with the applicable procedures of the Depository Trust Company. The redemption of the Series E Preferred Stock is conditioned upon the closing by the Company of its previously announced offering of Series F Cumulative Preferred Stock. The redemption date will be August 8, 2016. The shares of Series E Preferred Stock will be redeemed at a redemption price of $25.00 per share, plus accrued and unpaid dividends to, but not including, the redemption date, in an amount equal to $0.23125 per share, for a total redemption price of $25.23125 per share. The redemption price for the Series E Preferred Stock will be payable in cash, without interest, as soon as practicable after the redemption date. Dividends on shares of Series E Preferred Stock will cease to accrue on the day prior to the redemption date, such shares shall no longer be deemed outstanding and all rights of the holders in respect of such shares will terminate, except for the right to receive the redemption price, without interest thereon. Because the redemption of the Series E Preferred Stock is a redemption in full, trading of the Series E Preferred Stock on the NYSE will cease after the redemption date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Ashford Hospitality Trust, Inc., 9.00% Series E Cumulative Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 4/18/2016 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 9.00% ($2.25) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date which will be 12/31, 3/31, 6/30 & 9/30 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Upon the occurrence of a change of control resulting in the common shares of the surviving entity no longer being listed listed on the NYSE, the AMEX or the Nasdaq exchanges and the company has provided notice that they intend to redeem the preferred shares as a result of the change of control, the holder will have the right to convert the preferred shares into common shares (see the prospectus for details). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (AHT)
IPO - 4/13/2011 - 3.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $75.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 14185 Dallas Parkway, Suite 1100, Dallas, TX 75254 |
| Main Phone Number |
972-490-9600 |
| Fax Number |
972-980-2705 |
| Investor Contact (CFO)
Jordan Jennings
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972-778-9487
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Toll Free Phone Number |
Unknown |
| CEO - Montgomery J. Bennett |
CFO - Deric S. Eubanks |
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