Ashford Hospitality Prime, Inc. (NYSE:AHP) was the recipient of a significant drop in short interest during the month of October. As of October 13th, there was short interest totalling 487,616 shares, a drop of 37.2% from the September 29th total of 776,108 shares. Based on an average daily trading volume, of 204,108 shares, the short-interest ratio is presently 2.4 days. Currently, 1.6% of the shares of the stock are short sold.

Several research firms have recently issued reports on AHP. Zacks Investment Research upgraded shares of Ashford Hospitality Prime from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. ValuEngine upgraded shares of Ashford Hospitality Prime from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Robert W. Baird reiterated a “hold” rating and set a $11.00 price objective on shares of Ashford Hospitality Prime in a research report on Friday, September 8th. Finally, BidaskClub upgraded shares of Ashford Hospitality Prime from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Ashford Hospitality Prime currently has a consensus rating of “Hold” and a consensus price target of $13.17.

Shares of Ashford Hospitality Prime (NYSE:AHP) opened at 9.72 on Wednesday. Ashford Hospitality Prime has a 12 month low of $9.02 and a 12 month high of $14.87. The company has a market cap of $305.87 million, a PE ratio of 25.18 and a beta of 1.17. The company has a 50-day moving average of $9.89 and a 200 day moving average of $10.06.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Saturday, September 30th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 6.58%. The ex-dividend date of this dividend was Thursday, September 28th. Ashford Hospitality Prime’s dividend payout ratio is currently 177.78%.

A number of hedge funds and other institutional investors have recently bought and sold shares of AHP. Vanguard Group Inc. raised its stake in Ashford Hospitality Prime by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 4,275,883 shares of the real estate investment trust’s stock valued at $45,367,000 after purchasing an additional 626,155 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Ashford Hospitality Prime by 83.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 615,539 shares of the real estate investment trust’s stock valued at $6,333,000 after purchasing an additional 279,810 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Ashford Hospitality Prime by 56.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 700,678 shares of the real estate investment trust’s stock valued at $7,210,000 after purchasing an additional 251,717 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Ashford Hospitality Prime by 230.6% in the 1st quarter. Ameriprise Financial Inc. now owns 349,690 shares of the real estate investment trust’s stock valued at $3,710,000 after purchasing an additional 243,930 shares during the last quarter. Finally, State Street Corp raised its stake in Ashford Hospitality Prime by 17.0% in the 2nd quarter. State Street Corp now owns 1,099,981 shares of the real estate investment trust’s stock valued at $11,320,000 after purchasing an additional 160,134 shares during the last quarter. 69.48% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Short Interest in Ashford Hospitality Prime, Inc. (AHP) Declines By 37.2%” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/11/01/short-interest-in-ashford-hospitality-prime-inc-ahp-declines-by-37-2.html.

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.

Receive News & Ratings for Ashford Hospitality Prime Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashford Hospitality Prime Inc. and related companies with MarketBeat.com's FREE daily email newsletter.