Ashford Hospitality Prime, Inc. (NYSE:AHP) declared a quarterly dividend on Thursday, September 14th, Wall Street Journal reports. Shareholders of record on Saturday, September 30th will be given a dividend of 0.16 per share by the real estate investment trust on Monday, October 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date of this dividend is Thursday, September 28th.

Ashford Hospitality Prime has a payout ratio of 40.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ashford Hospitality Prime to earn $0.33 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 193.9%.

Ashford Hospitality Prime (NYSE:AHP) traded down 1.20% during trading on Thursday, hitting $9.84. 195,049 shares of the company’s stock were exchanged. Ashford Hospitality Prime has a 12-month low of $9.02 and a 12-month high of $14.89. The firm has a market cap of $309.65 million, a price-to-earnings ratio of 25.49 and a beta of 1.17. The company’s 50-day moving average price is $9.75 and its 200 day moving average price is $10.28.

AHP has been the subject of several recent research reports. Robert W. Baird reaffirmed a “hold” rating and set a $11.00 target price on shares of Ashford Hospitality Prime in a report on Friday, September 8th. ValuEngine lowered shares of Ashford Hospitality Prime from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research raised shares of Ashford Hospitality Prime from a “sell” rating to a “hold” rating in a report on Monday, August 28th. BidaskClub raised shares of Ashford Hospitality Prime from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $11.00 price target on shares of Ashford Hospitality Prime in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.17.

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Ashford Hospitality Prime Company Profile

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.

Dividend History for Ashford Hospitality Prime (NYSE:AHP)

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