Benzinga | Oct 7, 2020 10:57AM EDT

Why Ashford Hospitality Trust's Stock Is Trading Lower Today

Ashford Hospitality Trust (NYSE:AHT) shares are trading lower on Wednesday after the company announced the holders of the company's stock have voted to approve the proposed common stock offering of 126 million shares.

Ashford Hospitality Trust is a real estate investment trust that invests in full-service upscale and upper-upscale hotel properties in the U.S. The company owns and operates its assets through its operating partnership, Ashford Hospitality Limited Partnership. All of its hotels are located across the U.S. and operate under the Marriott, Hilton, Hyatt, Crowne Plaza, and Sheraton brands.

Ashford Hospitality Trust shares traded down 17.39% to $1.33 on Wednesday. The stock has a 52-week high of $31.40 and a 52-week low of $1.32.