Ashford Hospitality Trust (AHT) is a real estate investment trust (REIT) that invests opportunistically in upper scale full-service hotels. The company’s common stock took a hit in mid-2019 when management proactively reduced the dividend. However, this action was positive for the 8.5% yielding cumulative preferred shares, and so too is the company’s debt reduction and investment strategy. This report reviews the business, the share price appreciation potential, the dividend safety, the risks, and concludes with our ranking of Ashford relative to our list of Top 10 Safe Big Dividends.