Ashford Hospitality Prime Inc. (AHP) Receives Average Recommendation of “Hold” from Analysts
Shares of Ashford Hospitality Prime Inc. (NYSE:AHP) have earned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $14.75.
AHP has been the topic of several recent analyst reports. Canaccord Genuity reissued a “hold” rating and set a $17.00 price objective on shares of Ashford Hospitality Prime in a research note on Sunday, August 7th. FBR & Co lifted their price objective on shares of Ashford Hospitality Prime from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, July 22nd. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of Ashford Hospitality Prime in a research note on Sunday, June 26th.
A number of hedge funds and other institutional investors have recently made changes to their positions in AHP. Dimensional Fund Advisors LP raised its position in shares of Ashford Hospitality Prime by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 399,054 shares of the company’s stock worth $5,642,000 after buying an additional 18,793 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in Ashford Hospitality Prime during the second quarter worth about $2,394,000. First Trust Advisors LP acquired a new stake in Ashford Hospitality Prime during the second quarter worth about $144,000. Forward Management LLC increased its stake in Ashford Hospitality Prime by 561.4% in the second quarter. Forward Management LLC now owns 231,500 shares of the company’s stock worth $3,273,000 after buying an additional 196,500 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new stake in Ashford Hospitality Prime during the second quarter worth about $240,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.
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Ashford Hospitality Prime (NYSE:AHP) traded up 0.21% during mid-day trading on Thursday, hitting $14.15. The stock had a trading volume of 108,211 shares. The company’s market cap is $362.86 million. Ashford Hospitality Prime has a one year low of $8.37 and a one year high of $17.64. The company has a 50 day moving average price of $14.71 and a 200-day moving average price of $13.50.
Ashford Hospitality Prime (NYSE:AHP) last released its earnings results on Thursday, August 4th. The company reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Ashford Hospitality Prime had a negative return on equity of 3.29% and a negative net margin of 2.86%. Equities analysts expect that Ashford Hospitality Prime will post $1.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, September 28th. Ashford Hospitality Prime’s payout ratio is currently -87.27%.
Ashford Hospitality Prime Company Profile
Ashford Hospitality Prime, Inc invests in high revenue per available room (RevPAR), luxury, upper-upscale and upscale hotels in gateway and resort locations. The Company conducts its business and owns all of its assets through its operating partnership, Ashford Hospitality Prime Limited Partnership. It operates in the direct hotel investment segment of the hotel lodging industry.
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