$112.31 Million in Sales Expected for Ashford Hospitality Prime, Inc. (AHP) This Quarter
Wall Street brokerages predict that Ashford Hospitality Prime, Inc. (NYSE:AHP) will post $112.31 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Ashford Hospitality Prime’s earnings. The highest sales estimate is $114.07 million and the lowest is $110.36 million. Ashford Hospitality Prime reported sales of $99.65 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.7%. The firm is expected to issue its next earnings results on Wednesday, November 1st.
On average, analysts expect that Ashford Hospitality Prime will report full year sales of $112.31 million for the current financial year, with estimates ranging from $433.20 million to $444.50 million. For the next financial year, analysts expect that the company will post sales of $470.47 million per share, with estimates ranging from $462.19 million to $493.56 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Ashford Hospitality Prime.
Several research analysts recently commented on AHP shares. Deutsche Bank AG upgraded Ashford Hospitality Prime from a “hold” rating to a “buy” rating and cut their price target for the stock from $14.00 to $13.00 in a research note on Friday, June 9th. ValuEngine cut 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 “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Wednesday, July 5th. Canaccord Genuity reiterated a “hold” rating and issued a $11.00 price target on shares of Ashford Hospitality Prime in a research note on Monday, June 26th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $11.00 price target on shares of Ashford Hospitality Prime in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $13.17.
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Shares of Ashford Hospitality Prime (AHP) opened at 9.87 on Friday. The firm has a market cap of $310.59 million, a price-to-earnings ratio of 25.57 and a beta of 1.17. Ashford Hospitality Prime has a 52-week low of $9.02 and a 52-week high of $14.89. The firm has a 50-day moving average price of $9.71 and a 200-day moving average price of $10.25.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 6.48%. The ex-dividend date of this dividend is Thursday, September 28th. Ashford Hospitality Prime’s dividend payout ratio is currently 177.78%.
A number of institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC grew its holdings in shares of Ashford Hospitality Prime by 68.4% during the fourth quarter. Teachers Advisors LLC now owns 78,285 shares of the real estate investment trust’s stock valued at $1,069,000 after purchasing an additional 31,784 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Ashford Hospitality Prime during the first quarter valued at approximately $113,000. Acadian Asset Management LLC bought a new position in shares of Ashford Hospitality Prime during the first quarter valued at approximately $295,000. Strs Ohio grew its holdings in shares of Ashford Hospitality Prime by 20.0% during the first quarter. Strs Ohio now owns 55,671 shares of the real estate investment trust’s stock valued at $590,000 after purchasing an additional 9,293 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Ashford Hospitality Prime during the first quarter valued at approximately $335,000. 69.48% of the stock is owned by hedge funds and other institutional investors.
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.
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