Ashford Hospitality Prime, Inc. (NYSE:AHP) declared a quarterly dividend on Wednesday, June 14th, Wall Street Journal reports. Investors of record on Friday, June 30th will be paid a dividend of 0.16 per share by the real estate investment trust on Monday, July 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date of this dividend is Wednesday, June 28th.

Ashford Hospitality Prime has a dividend payout ratio of 37.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ashford Hospitality Prime to earn $0.30 per share next year, which means the company may not be able to cover its $0.64 annual dividend with an expected future payout ratio of 213.3%.

Shares of Ashford Hospitality Prime (NYSE AHP) traded down 2.67% during trading on Wednesday, hitting $9.83. The company had a trading volume of 152,637 shares. The firm’s 50 day moving average is $10.17 and its 200-day moving average is $11.95. The stock has a market capitalization of $268.03 million, a P/E ratio of 18.62 and a beta of 1.17. Ashford Hospitality Prime has a 52 week low of $9.28 and a 52 week high of $17.64.

Dividend History for Ashford Hospitality Prime (NYSE:AHP)

Institutional investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY raised its position in shares of Ashford Hospitality Prime by 7.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 21,507 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 1,455 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Ashford Hospitality Prime by 4.1% in the first quarter. Alliancebernstein L.P. now owns 32,009 shares of the real estate investment trust’s stock valued at $340,000 after buying an additional 1,270 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Ashford Hospitality Prime by 1.9% in the first quarter. California Public Employees Retirement System now owns 75,700 shares of the real estate investment trust’s stock valued at $803,000 after buying an additional 1,400 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Ashford Hospitality Prime by 48.8% in the first quarter. Teachers Advisors LLC now owns 116,496 shares of the real estate investment trust’s stock valued at $1,236,000 after buying an additional 38,211 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ashford Hospitality Prime by 24.0% in the first quarter. Geode Capital Management LLC now owns 274,782 shares of the real estate investment trust’s stock valued at $2,915,000 after buying an additional 53,096 shares in the last quarter. Hedge funds and other institutional investors own 68.02% of the company’s stock.

Several equities analysts recently weighed in on AHP shares. FBR & Co cut their price target on Ashford Hospitality Prime to $16.00 in a research note on Monday, February 27th. Deutsche Bank AG upgraded Ashford Hospitality Prime from a “hold” rating to a “buy” rating and cut their price target for the company from $14.00 to $13.00 in a research note on Friday, June 9th. ValuEngine lowered Ashford Hospitality Prime from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Ashford Hospitality Prime from a “sell” rating to a “hold” rating in a research note on Wednesday, May 10th. Finally, JMP Securities restated a “market perform” rating on shares of Ashford Hospitality Prime in a research note on Friday, April 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Ashford Hospitality Prime presently has an average rating of “Hold” and an average target price of $15.00.

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About Ashford Hospitality Prime

Ashford Hospitality Prime, Inc invests in high revenue per available room (RevPAR), luxury hotels and resorts. The Company conducts its business and owns all of its assets through its operating partnership, Ashford Hospitality Prime Limited Partnership (Ashford Prime OP). The Company operates in the direct hotel investment segment of the hotel lodging industry.

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