Tearsheet

Ashford Hospitality Trust (AHT)


Market Price (12/23/2025): $3.79 | Market Cap: $23.0 Mil
Sector: Real Estate | Industry: Hotel & Resort REITs

Ashford Hospitality Trust (AHT)


Market Price (12/23/2025): $3.79
Market Cap: $23.0 Mil
Sector: Real Estate
Industry: Hotel & Resort REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34%
Weak multi-year price returns
2Y Excs Rtn is -126%, 3Y Excs Rtn is -169%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 12577%
1 Attractive yield
FCF Yield is 47%
  Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.8%, Rev Chg QQuarterly Revenue Change % is -3.8%
2   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1025%
3   Key risks
AHT key risks include [1] extreme leverage creating a high probability of financial distress, Show more.
0 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34%
1 Attractive yield
FCF Yield is 47%
2 Weak multi-year price returns
2Y Excs Rtn is -126%, 3Y Excs Rtn is -169%
3 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 12577%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.8%, Rev Chg QQuarterly Revenue Change % is -3.8%
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1025%
6 Key risks
AHT key risks include [1] extreme leverage creating a high probability of financial distress, Show more.

Valuation, Metrics & Events

AHT Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

The provided information does not indicate a -36.9% stock movement for Ashford Hospitality Trust (AHT) during the approximate time period from August 31, 2025, to December 23, 2025. Stock forecasts for 2025 generally predict AHT's price to trade within a range, for instance, between $3.89 and $4.01. News articles dated within this period, such as December 9, 2025, reported an 11% increase in AHT shares following the announcement of a special committee to explore strategic alternatives. Another report from December 11, 2025, indicated a 0.44% increase in the stock price. As of December 17, 2025, the stock was priced at $3.69. Therefore, the specific -36.9% decline as an observed event within the requested timeframe is not supported by the available data. Show more

Stock Movement Drivers

Fundamental Drivers

The -36.3% change in AHT stock from 9/22/2025 to 12/22/2025 was primarily driven by a -32.6% change in the company's P/S Multiple.
922202512222025Change
Stock Price ($)5.933.78-36.26%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1131.441120.90-0.93%
P/S Multiple0.030.02-32.59%
Shares Outstanding (Mil)5.806.08-4.77%
Cumulative Contribution-36.40%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025
ReturnCorrelation
AHT-36.3% 
Market (SPY)2.7%24.3%
Sector (XLRE)-3.6%15.8%

Fundamental Drivers

The -36.0% change in AHT stock from 6/23/2025 to 12/22/2025 was primarily driven by a -29.6% change in the company's P/S Multiple.
623202512222025Change
Stock Price ($)5.913.78-36.04%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1145.921120.90-2.18%
P/S Multiple0.030.02-29.64%
Shares Outstanding (Mil)5.656.08-7.61%
Cumulative Contribution-36.41%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025
ReturnCorrelation
AHT-36.0% 
Market (SPY)14.4%23.1%
Sector (XLRE)-3.7%12.1%

Fundamental Drivers

The -51.1% change in AHT stock from 12/22/2024 to 12/22/2025 was primarily driven by a -36.7% change in the company's P/S Multiple.
1222202412222025Change
Stock Price ($)7.733.78-51.10%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1216.861120.90-7.89%
P/S Multiple0.030.02-36.65%
Shares Outstanding (Mil)5.106.08-19.33%
Cumulative Contribution-52.93%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025
ReturnCorrelation
AHT-51.1% 
Market (SPY)16.9%22.6%
Sector (XLRE)1.9%15.4%

Fundamental Drivers

The -91.7% change in AHT stock from 12/23/2022 to 12/22/2025 was primarily driven by a -84.6% change in the company's P/S Multiple.
1223202212222025Change
Stock Price ($)45.503.78-91.69%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1172.121120.90-4.37%
P/S Multiple0.130.02-84.63%
Shares Outstanding (Mil)3.446.08-76.92%
Cumulative Contribution-96.61%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025
ReturnCorrelation
AHT-80.4% 
Market (SPY)47.7%18.9%
Sector (XLRE)7.2%18.9%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
AHT Return-91%-63%-53%-57%-63%-47%-100%
Peers Return-25%20%-21%31%-4%-4%-14%
S&P 500 Return16%27%-19%24%23%17%113%

Monthly Win Rates [3]
AHT Win Rate25%33%50%42%25%33% 
Peers Win Rate43%52%45%53%38%53% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
AHT Max Drawdown-95%-64%-57%-58%-72%-59% 
Peers Max Drawdown-74%-5%-28%-8%-16%-31% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: HST, RHP, PK, PEB, DRH. See AHT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique KeyEventAHTS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-97.2%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven3486.0%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-95.4%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven2062.8%51.3%
2020 Covid PandemicTime to BreakevenTime to BreakevenNot Fully Recovered days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-72.8%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven267.1%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-92.8%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven1286.8%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven792 days1,480 days

Compare to CLDT, BHR, SOHO, VICI, HST

In The Past

Ashford Hospitality Trust's stock fell -97.2% during the 2022 Inflation Shock from a high on 6/9/2021. A -97.2% loss requires a 3486.0% gain to breakeven.

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About Ashford Hospitality Trust (AHT)

Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.

AI Analysis | Feedback

1. AHT is like Simon Property Group (SPG), but instead of owning shopping malls, it owns a portfolio of upscale hotels.

2. Imagine a company that owns the actual buildings for numerous upscale hotels operating under brands like Marriott or Hilton, similar to a large-scale commercial landlord.

AI Analysis | Feedback

  • Lodging Services: Providing hotel rooms and suites for guests seeking overnight stays.
  • Hospitality Amenities: Offering a range of complementary services and facilities within its hotels, such as dining, meeting spaces, and fitness centers.

AI Analysis | Feedback

Ashford Hospitality Trust (AHT) primarily generates revenue from the operations of the hotel properties it owns. While these hotels are managed by various hotel management companies (including Remington Hotels, a subsidiary of Ashford Inc. (AINC), as well as brand-affiliated management companies like Marriott and Hilton), the ultimate customers whose bookings and stays drive the hotels' performance, and thus AHT's revenue, are **individuals**.

Ashford Hospitality Trust serves up to three main categories of individual customers:

  • Business Travelers: Individuals traveling for corporate purposes, including attending meetings, conferences, conventions, or on general business trips. Upscale, full-service hotels often cater to this segment with amenities like meeting spaces, business centers, and executive lounges.
  • Leisure Travelers: Individuals and families who are traveling for personal enjoyment, vacations, weekend getaways, tourism, or to attend special events such as concerts or sporting events.
  • Group Travelers: Individuals who are part of larger organized groups, such as attendees of weddings, family reunions, tour groups, or other events that book blocks of rooms. While a group organizer might book on behalf of these individuals, the guests themselves are the ultimate customers.

AI Analysis | Feedback

  • Ashford Inc. (AINC)
  • Marriott International, Inc. (MAR)
  • Hilton Worldwide Holdings Inc. (HLT)
  • Hyatt Hotels Corporation (H)
  • InterContinental Hotels Group PLC (IHG)

AI Analysis | Feedback

Monty J. Bennett Chairman of the Board

Mr. Bennett is the Founder, Chairman, and Chief Executive Officer of Ashford Inc., and also the Founder and Chairman of both Ashford Hospitality Trust (NYSE: AHT) and Braemar Hotels & Resorts (NYSE: BHR). He possesses over three decades of experience across various facets of the hospitality industry, including hotel real estate, finance, ownership, operations, development, asset management, and project management. Mr. Bennett co-founded Remington Hotels with his father in 1989, growing the business significantly. He served as CEO of Ashford Hospitality Trust from its founding until 2017 and remains its chairman. Additionally, he publishes the Dallas Express, a news website launched in 2021.

Stephen Zsigray President & Chief Executive Officer

Mr. Zsigray is the President and Chief Executive Officer of Ashford Hospitality Trust (NYSE: AHT), appointed in June 2024, succeeding J. Robison Hays III. Prior to this role, he served as Senior Vice President of Corporate Finance & Strategy. In that capacity, he was instrumental in helping the Ashford platforms raise over $1.3 billion in common and preferred equity, secure more than $1.1 billion in new corporate and property-level debt financing, and negotiate maturity extensions on over $3.3 billion in mortgage debt. Mr. Zsigray also managed Ashford's cash management platform and oversaw the corporate hedging strategy. He joined Ashford in 2014 as a trader and portfolio manager in the investment management division and previously served as President and Chief Operating Officer of OpenKey, an Ashford-affiliated hospitality technology company. Before joining Ashford, Mr. Zsigray worked with UBS Investment Bank in New York, trading and structuring derivatives, and began his career at Deloitte Consulting.

Deric S. Eubanks Chief Financial Officer

Mr. Eubanks is the Chief Financial Officer of Ashford Hospitality Trust (NYSE: AHT) and also serves as the Chief Financial Officer of Ashford Inc. and Braemar Hotels & Resorts (NYSE: BHR). In this role, he is responsible for all corporate finance and financial reporting initiatives and is actively involved in capital market activities, including equity raises and debt financings. He also oversees investor relations. Before becoming CFO, Mr. Eubanks held the position of Senior Vice President of Finance.

Alex Rose Executive Vice President, General Counsel and Secretary

Mr. Rose has served as the Executive Vice President, General Counsel, and Secretary of Ashford Inc., Ashford Hospitality Trust, Inc., Stirling Hotels & Resorts, Inc., and Braemar Hotels & Resorts Inc. since July 2021. His responsibilities encompass supervising the legal needs and interests of both the Board of Directors and senior management, ensuring legal compliance in both public and private sectors, and acting as a liaison to various third parties within Ashford's portfolio of companies.

AI Analysis | Feedback

The key risks to Ashford Hospitality Trust (AHT) include:

  1. High Leverage and Risk of Financial Distress: Ashford Hospitality Trust faces significant financial risk due to its high leverage, with a reported Debt/EBITDA ratio of 14.04. This elevated debt level contributes to an above-average probability of financial distress, with some analyses indicating a probability of bankruptcy exceeding 60%. The company's reliance on asset sales to reduce debt further underscores this risk.
  2. Execution Risk of Strategic Initiatives: The company's strategy hinges on the successful execution of ambitious plans such as the "GRO AHT" initiative, aimed at boosting EBITDA by $50 million annually through cost cuts and revenue diversification. There is inherent risk in achieving such targets, and the anticipated benefits from potential interest rate cuts and demand recovery are also assumptions central to their strategy. Furthermore, continued asset sales, while intended to reduce leverage, carry the risk of eroding the portfolio's scale and long-term growth potential.
  3. Market Valuation Gap and Shareholder Value Concerns: Ashford Hospitality Trust has acknowledged a significant "valuation gap" between its underlying portfolio and the market value of its common stock. This discrepancy has led the company's Board to form a Special Committee to evaluate strategic alternatives to maximize shareholder value. In connection with this review, the company suspended redemptions for all outstanding non-traded preferred stock, indicating challenges in meeting investor expectations and potentially impacting market confidence.

AI Analysis | Feedback

The sustained global shift towards remote and hybrid work models represents a clear emerging threat. This trend is leading to a potentially permanent reduction in traditional corporate business travel and in-person group meetings, which are significant demand drivers for Ashford Hospitality Trust's portfolio of upscale, full-service hotels. This structural change in demand could result in persistently lower occupancy rates, decreased average daily rates, and reduced profitability for properties heavily reliant on these segments.

AI Analysis | Feedback

Ashford Hospitality Trust (AHT) is a real estate investment trust (REIT) primarily focused on investing in and managing upscale and upper-upscale, full-service hotels across the United States.

The addressable market for Ashford Hospitality Trust's main products and services can be defined by the U.S. luxury and upscale hotel segment. The U.S. hotels market size was estimated at USD 263.21 billion in 2024. The luxury and upscale segment constituted approximately 61% of this market in 2024, which translates to an addressable market of approximately USD 160.56 billion in the U.S.

Looking ahead, the U.S. hotels market is projected to reach USD 280.63 billion in 2025. Assuming the luxury and upscale segment maintains a similar share, the addressable market for Ashford Hospitality Trust in the U.S. for 2025 would be approximately USD 171.19 billion. Another estimate places the Hotels & Motels market in the US at USD 286.5 billion in 2025. If applying the 61% share to this figure, the addressable market would be approximately USD 174.77 billion. The U.S. luxury hotel market alone was valued at USD 27.1 billion in 2024 and is projected to reach USD 40 billion by 2032.

AI Analysis | Feedback

Ashford Hospitality Trust (AHT) anticipates several key drivers for future revenue growth over the next 2-3 years, as outlined in recent company communications and analyst observations:

  1. Revenue Maximization through "GRO AHT" Initiative: The company is actively pursuing its "GRO AHT" strategic initiative, which aims to improve EBITDA by $50 million. A significant component of this initiative is revenue maximization, involving tremendous efforts from asset management and property managers to drive total revenue growth across its portfolio.
  2. Growth in Group Demand: Ashford Hospitality Trust expects to benefit from strong group demand. Recent commentary indicates robust group room revenue pacing ahead, with expectations for continued strength into 2026, partly driven by events such as the FIFA World Cup.
  3. Enhanced Property-Level Performance and Ancillary Revenue Generation: Management is focused on realizing outsized improvements in property-level performance and growing ancillary revenue streams. This involves actively driving sales and optimizing operational efficiency within their existing hotel assets to maximize overall revenue.
  4. Strategic Asset Management and Portfolio Optimization: Although the company is engaged in strategic asset dispositions of non-core properties to deleverage, the underlying goal is to strengthen its capital structure and focus on a high-quality, geographically diverse portfolio that is better positioned for future outperformance and revenue generation.

AI Analysis | Feedback

Share Repurchases

  • Ashford Hospitality Trust had annual share buybacks of $49,000 in 2024, a decrease from $90,000 in 2023 and $316,000 in 2022.
  • In November 2019, the board of directors authorized a repurchase program to acquire common and preferred stock with an aggregate value of up to $200 million.

Share Issuance

  • In September 2020, Ashford Hospitality Trust initiated exchange offers for all outstanding series of its preferred stock (Series D, F, G, H, I).
  • In connection with the 2020 exchange offers, the company stated it would not issue more than 126,048,813 shares of Common Stock or distribute more than $30,000,000 in cash.
  • Ashford Hospitality Trust plans to close its non-listed Series J and Series K offerings by March 31, 2025, having raised approximately $180 million in gross proceeds since their launch in 2022.
  • As of September 30, 2025, the company had 7,672,142 shares of Series J, 737,805 shares of Series K, 195,976 shares of Series L, and 433,601 shares of Series M Redeemable Preferred Stock issued and outstanding.

Capital Expenditures

  • Capital expenditures are projected to be $70-80 million for the full year 2025.
  • The company reported investing $5.7 million in capital expenditures during Q3 2025 and $19.9 million in Q2 2025.
  • A primary focus of capital expenditures in the coming years is on improving the quality of existing hotel properties.

Better Bets than Ashford Hospitality Trust (AHT)

Trade Ideas

Select ideas related to AHT. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
MPW_10312025_Short_Squeeze10312025MPWMedical Properties TrustSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
1.1%1.1%-5.8%

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Peer Comparisons for Ashford Hospitality Trust

Peers to compare with:

Financials

AHTHSTRHPPKPEBDRHMedian
NameAshford .Host Hot.Ryman Ho.Park Hot.Pebblebr.Diamondr. 
Mkt Price3.7818.6397.6810.7911.499.3111.14
Mkt Cap0.012.86.22.11.41.92.0
Rev LTM1,1215,9392,4872,5371,4641,1251,976
Op Inc LTM5880846921263161186
FCF LTM11671250122288137193
FCF 3Y Avg-482427517725198214
CFO LTM111,298593373288252330
CFO 3Y Avg-41,422578432251229341

Growth & Margins

AHTHSTRHPPKPEBDRHMedian
NameAshford .Host Hot.Ryman Ho.Park Hot.Pebblebr.Diamondr. 
Rev Chg LTM-7.9%6.5%7.0%-3.6%1.0%1.0%1.0%
Rev Chg 3Y Avg-0.8%8.6%15.9%4.0%3.6%6.4%5.2%
Rev Chg Q-3.8%0.9%7.7%-6.0%-1.4%0.1%-0.7%
QoQ Delta Rev Chg LTM-0.9%0.2%1.7%-1.5%-0.4%0.0%-0.2%
Op Mgn LTM5.2%13.6%18.8%8.4%4.3%14.3%11.0%
Op Mgn 3Y Avg6.6%14.0%20.5%11.2%4.7%13.6%12.4%
QoQ Delta Op Mgn LTM-0.4%-0.2%-1.0%-1.3%-0.6%0.0%-0.5%
CFO/Rev LTM1.0%21.9%23.8%14.7%19.7%22.4%20.8%
CFO/Rev 3Y Avg-0.4%25.6%25.2%16.4%17.4%20.8%19.1%
FCF/Rev LTM1.0%11.3%10.0%4.8%19.7%12.2%10.7%
FCF/Rev 3Y Avg-0.4%14.8%12.2%6.7%17.4%8.8%10.5%

Valuation

AHTHSTRHPPKPEBDRHMedian
NameAshford .Host Hot.Ryman Ho.Park Hot.Pebblebr.Diamondr. 
Mkt Cap0.012.86.22.11.41.92.0
P/S0.02.22.50.80.91.71.3
P/EBIT0.412.712.79.3112.014.912.7
P/E-0.117.425.8-178.9-13.729.98.6
P/CFO2.19.910.45.84.77.66.7
Total Yield-1,021.2%10.6%8.4%12.6%-6.9%8.0%8.2%
Dividend Yield0.0%4.9%4.5%13.2%0.4%4.6%4.6%
FCF Yield 3Y Avg-27.6%7.0%5.0%6.8%16.8%5.7%6.3%
D/E129.30.40.72.21.90.61.3
Net D/E125.80.40.62.11.70.51.2

Returns

AHTHSTRHPPKPEBDRHMedian
NameAshford .Host Hot.Ryman Ho.Park Hot.Pebblebr.Diamondr. 
1M Rtn10.2%6.9%3.6%2.9%3.8%5.6%4.7%
3M Rtn-36.3%9.8%5.3%-5.2%-0.5%15.5%2.4%
6M Rtn-36.0%21.0%-0.8%10.0%20.5%23.1%15.3%
12M Rtn-51.1%8.2%-3.2%-18.6%-14.9%5.6%-9.0%
3Y Rtn-91.7%33.6%33.7%27.9%-12.3%23.9%25.9%
1M Excs Rtn4.4%5.6%2.9%4.5%4.1%3.3%4.2%
3M Excs Rtn-38.8%4.8%0.2%-10.7%-3.4%11.0%-1.6%
6M Excs Rtn-51.1%8.9%-13.3%-4.0%8.4%10.5%2.2%
12M Excs Rtn-68.6%-4.9%-19.1%-33.2%-31.4%-9.9%-25.2%
3Y Excs Rtn-169.4%-49.1%-49.8%-54.9%-100.2%-60.6%-57.8%

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Direct hotel investments1,368    
Food and beverage 1979561244
Other 3224
Other hotel revenue 67533870
Rooms 9746554071,185
Total1,3681,2418055081,503


Price Behavior

Price Behavior
Market Price$3.78 
Market Cap ($ Bil)0.0 
First Trading Date08/26/2003 
Distance from 52W High-61.5% 
   50 Days200 Days
DMA Price$4.19$5.78
DMA Trenddowndown
Distance from DMA-9.8%-34.6%
 3M1YR
Volatility108.2%73.9%
Downside Capture388.71181.29
Upside Capture122.8583.20
Correlation (SPY)24.2%22.9%
AHT Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta1.641.211.151.170.821.27
Up Beta-0.430.02-0.060.780.350.80
Down Beta2.932.032.412.330.961.00
Up Capture-51%-76%-58%-0%42%81%
Bmk +ve Days12253873141426
Stock +ve Days39194897280
Down Capture315%245%208%157%131%111%
Bmk -ve Days7162452107323
Stock -ve Days15294071140432

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of AHT With Other Asset Classes (Last 1Y)
 AHTSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-55.2%-2.0%14.7%67.3%6.8%-0.5%-16.6%
Annualized Volatility74.2%17.4%19.7%19.3%15.2%17.6%35.4%
Sharpe Ratio-0.81-0.270.572.540.23-0.18-0.25
Correlation With Other Assets 18.7%24.1%5.7%16.7%20.0%14.8%

ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
 Comparison of AHT With Other Asset Classes (Last 5Y)
 AHTSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-60.0%5.8%15.0%18.9%11.8%5.1%35.8%
Annualized Volatility88.3%19.1%17.1%15.5%18.7%18.9%48.9%
Sharpe Ratio-0.640.210.710.980.510.180.63
Correlation With Other Assets 27.7%31.6%9.4%12.7%31.4%16.2%

ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of AHT With Other Asset Classes (Last 10Y)
 AHTSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-50.5%6.5%14.9%14.9%6.7%5.5%69.9%
Annualized Volatility121.8%20.6%18.0%14.8%17.6%20.8%55.8%
Sharpe Ratio-0.170.280.710.840.300.230.90
Correlation With Other Assets 24.1%23.7%-5.7%13.5%28.9%10.1%

ETFs used for asset classes: Sector ETF = XLRE, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date11282025
Short Interest: Shares Quantity64,651
Short Interest: % Change Since 111520257.6%
Average Daily Volume98,975
Days-to-Cover Short Interest1
Basic Shares Quantity6,081,000
Short % of Basic Shares1.1%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/4/20253.6%-0.2%-28.4%
7/31/2025-1.3%-1.6%-5.8%
5/6/20250.5%1.8%-3.7%
2/25/2025-0.4%-7.6%-11.8%
11/5/2024-5.3%71.2%40.0%
7/30/20248.5%-3.4%2.6%
4/30/20244.3%5.1%0.9%
2/15/2024-4.7%-7.6%-20.0%
...
SUMMARY STATS   
# Positive131312
# Negative101011
Median Positive3.6%12.0%19.7%
Median Negative-5.0%-5.1%-19.2%
Max Positive18.0%71.2%102.7%
Max Negative-6.8%-22.7%-35.8%

SEC Filings

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Report DateFiling DateFiling
93020251113202510-Q 9/30/2025
6302025814202510-Q 6/30/2025
3312025514202510-Q 3/31/2025
12312024321202510-K 12/31/2024
93020241112202410-Q 9/30/2024
6302024808202410-Q 6/30/2024
3312024509202410-Q 3/31/2024
12312023314202410-K 12/31/2023
93020231108202310-Q 9/30/2023
6302023809202310-Q 6/30/2023
3312023508202310-Q 3/31/2023
12312022310202310-K 12/31/2022
93020221107202210-Q 9/30/2022
6302022805202210-Q 6/30/2022
3312022506202210-Q 3/31/2022
12312021228202210-K 12/31/2021