RTTNews | Jul 19, 2021 12:42PM EDT

12:41 Monday, July 19, 2021 (RTTNews.com) - Texas-based real estate company Ashton Hospitality Trust is down 8% after the company announced a reverse stock split on Friday. The 1 for 10 reverse stock split would result in the number of outstanding common shares becoming 26.5 million from 265.1 million.

The company also reported that it would reverse split its operating partnerships in the same ratio.

The shares of the company are trading at $16.91, down $1.29 or 7.09% from their previous close at $18.20. The sarees opened at $16.19 in the morning and in the 52-week period, the shares have moved between $1.27 and $17.16.

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