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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and UDR, Inc. (UDR). Click either name above to swap in a different company.
UDR, Inc. is the larger business by last-quarter revenue ($425.8M vs $259.0M, roughly 1.6× ASHFORD HOSPITALITY TRUST INC). UDR, Inc. runs the higher net margin — 44.6% vs -26.8%, a 71.3% gap on every dollar of revenue. On growth, UDR, Inc. posted the faster year-over-year revenue change (0.9% vs -6.0%). Over the past eight quarters, UDR, Inc.'s revenue compounded faster (1.3% CAGR vs -7.7%).
Ashford Hospitality Trust Inc is a U.S.-headquartered real estate investment trust focused on upper-upscale full-service hotel properties across key U.S. urban, suburban and resort markets. Its portfolio holds assets under top global hospitality brands, serving business and leisure travelers, with a focus on long-term value growth and stable shareholder returns.
UDR, Inc. is a leading U.S.-headquartered real estate investment trust specializing in owning, operating, and redeveloping high-quality multifamily residential apartment communities. It operates across major U.S. metropolitan markets, catering to a diverse tenant base including young professionals, families, and middle-to-high income households.
AHT vs UDR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $425.8M |
| Net Profit | $-69.3M | $189.8M |
| Gross Margin | — | — |
| Operating Margin | -2.6% | 54.0% |
| Net Margin | -26.8% | 44.6% |
| Revenue YoY | -6.0% | 0.9% |
| Net Profit YoY | 44.2% | 147.2% |
| EPS (diluted) | $-12.85 | $0.63 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $425.8M | ||
| Q4 25 | $259.0M | $433.1M | ||
| Q3 25 | $266.1M | $431.9M | ||
| Q2 25 | $302.0M | $425.4M | ||
| Q1 25 | $277.4M | $421.9M | ||
| Q4 24 | $275.5M | $422.7M | ||
| Q3 24 | $276.6M | $420.2M | ||
| Q2 24 | $316.5M | $415.3M |
| Q1 26 | — | $189.8M | ||
| Q4 25 | $-69.3M | $222.9M | ||
| Q3 25 | $-60.1M | $40.4M | ||
| Q2 25 | $-30.4M | $37.7M | ||
| Q1 25 | $-20.0M | $76.7M | ||
| Q4 24 | $-124.2M | $-5.0M | ||
| Q3 24 | $-57.9M | $22.6M | ||
| Q2 24 | $50.3M | $28.9M |
| Q1 26 | — | 54.0% | ||
| Q4 25 | -2.6% | 64.1% | ||
| Q3 25 | 4.6% | 17.7% | ||
| Q2 25 | 16.3% | 18.2% | ||
| Q1 25 | 22.2% | 29.0% | ||
| Q4 24 | -17.8% | 15.7% | ||
| Q3 24 | 7.3% | 16.6% | ||
| Q2 24 | 42.8% | 16.5% |
| Q1 26 | — | 44.6% | ||
| Q4 25 | -26.8% | 51.5% | ||
| Q3 25 | -22.6% | 9.4% | ||
| Q2 25 | -10.1% | 8.9% | ||
| Q1 25 | -7.2% | 18.2% | ||
| Q4 24 | -45.1% | -220.5% | ||
| Q3 24 | -20.9% | 5.4% | ||
| Q2 24 | 15.9% | 7.0% |
| Q1 26 | — | $0.63 | ||
| Q4 25 | $-12.85 | $0.67 | ||
| Q3 25 | $-11.35 | $0.12 | ||
| Q2 25 | $-6.88 | $0.11 | ||
| Q1 25 | $-4.91 | $0.23 | ||
| Q4 24 | $-13.64 | $-0.01 | ||
| Q3 24 | $-12.39 | $0.06 | ||
| Q2 24 | $2.50 | $0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $66.1M | $1.3M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $3.3B |
| Total Assets | $2.8B | $10.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.3M | ||
| Q4 25 | $66.1M | $1.2M | ||
| Q3 25 | $81.9M | $1.2M | ||
| Q2 25 | $100.0M | $1.5M | ||
| Q1 25 | $85.8M | $1.3M | ||
| Q4 24 | $112.9M | $1.3M | ||
| Q3 24 | $119.7M | $2.3M | ||
| Q2 24 | $121.8M | $2.8M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $5.8B | ||
| Q3 25 | $2.6B | $5.8B | ||
| Q2 25 | $2.6B | $5.8B | ||
| Q1 25 | $2.7B | $5.8B | ||
| Q4 24 | $2.6B | $5.8B | ||
| Q3 24 | $2.7B | $5.9B | ||
| Q2 24 | $2.8B | $5.8B |
| Q1 26 | — | $3.3B | ||
| Q4 25 | $-626.4M | $3.3B | ||
| Q3 25 | $-548.7M | $3.3B | ||
| Q2 25 | $-485.5M | $3.3B | ||
| Q1 25 | $-446.1M | $3.3B | ||
| Q4 24 | $-419.2M | $3.4B | ||
| Q3 24 | $-288.4M | $3.5B | ||
| Q2 24 | $-225.9M | $3.7B |
| Q1 26 | — | $10.3B | ||
| Q4 25 | $2.8B | $10.6B | ||
| Q3 25 | $3.0B | $10.6B | ||
| Q2 25 | $3.1B | $10.6B | ||
| Q1 25 | $3.1B | $10.7B | ||
| Q4 24 | $3.2B | $10.9B | ||
| Q3 24 | $3.3B | $11.1B | ||
| Q2 24 | $3.3B | $11.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | 1.78× | ||
| Q2 25 | — | 1.74× | ||
| Q1 25 | — | 1.74× | ||
| Q4 24 | — | 1.69× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | — | 1.55× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-15.7M | — |
| Free Cash FlowOCF − Capex | $-86.8M | — |
| FCF MarginFCF / Revenue | -33.5% | — |
| Capex IntensityCapex / Revenue | 27.5% | 4.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-15.7M | $902.9M | ||
| Q3 25 | $5.5M | $234.9M | ||
| Q2 25 | $16.3M | $250.3M | ||
| Q1 25 | $-25.0M | $156.2M | ||
| Q4 24 | $-23.6M | $876.8M | ||
| Q3 24 | $795.0K | $230.3M | ||
| Q2 24 | $8.0M | $238.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-86.8M | $650.0M | ||
| Q3 25 | $-226.0K | $164.6M | ||
| Q2 25 | $-3.6M | $190.1M | ||
| Q1 25 | $-44.8M | $103.2M | ||
| Q4 24 | $-131.6M | $627.0M | ||
| Q3 24 | $-21.8M | $161.3M | ||
| Q2 24 | $-22.9M | $171.1M |
| Q1 26 | — | — | ||
| Q4 25 | -33.5% | 150.1% | ||
| Q3 25 | -0.1% | 38.1% | ||
| Q2 25 | -1.2% | 44.7% | ||
| Q1 25 | -16.2% | 24.5% | ||
| Q4 24 | -47.8% | 148.3% | ||
| Q3 24 | -7.9% | 38.4% | ||
| Q2 24 | -7.2% | 41.2% |
| Q1 26 | — | 4.9% | ||
| Q4 25 | 27.5% | 58.4% | ||
| Q3 25 | 2.1% | 16.3% | ||
| Q2 25 | 6.6% | 14.2% | ||
| Q1 25 | 7.2% | 12.6% | ||
| Q4 24 | 39.2% | 59.1% | ||
| Q3 24 | 8.2% | 16.4% | ||
| Q2 24 | 9.8% | 16.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.05× | ||
| Q3 25 | — | 5.81× | ||
| Q2 25 | — | 6.64× | ||
| Q1 25 | — | 2.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 10.19× | ||
| Q2 24 | 0.16× | 8.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AHT
| Occupancy | $190.2M | 73% |
| Food And Beverage | $51.8M | 20% |
| Hotel Other | $16.6M | 6% |
UDR
| Rental income | $423.3M | 99% |
| Joint venture management and other fees | $2.5M | 1% |
