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Ashford Trust eyes 1st increase in authorized common shares

Ashford Hospitality Trust Inc. is seeking to lift the number of shares of common stock it is authorized to issue to 400.0 million shares from 200.0 million shares.

The company said its board adopted an amendment to its charter March 28 to increase the number of such shares.

Ashford will ask its shareholders to vote on the proposed amendment at its annual stockholder meeting, scheduled for May 16.

If approved, this will be the first increase in the authorized shares of the company's common stock.