Ashford Hospitality Prime, Inc. (NYSE:AHP) announced a quarterly dividend on Monday, December 11th, Zacks reports. Investors of record on Friday, December 29th will be given a dividend of 0.16 per share by the real estate investment trust on Tuesday, January 16th. This represents a $0.64 annualized dividend and a dividend yield of 6.55%. The ex-dividend date is Thursday, December 28th.

Ashford Hospitality Prime has a dividend payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ashford Hospitality Prime to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 40.3%.

Ashford Hospitality Prime (AHP) traded up $0.53 during midday trading on Tuesday, hitting $9.77. 398,200 shares of the company traded hands, compared to its average volume of 270,906. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 2.57. Ashford Hospitality Prime has a twelve month low of $8.74 and a twelve month high of $14.87. The company has a market capitalization of $295.06, a PE ratio of 5.53 and a beta of 1.14.

Ashford Hospitality Prime declared that its Board of Directors has approved a share repurchase program on Monday, December 11th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

In other news, EVP Jeremy Welter acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was bought at an average price of $8.90 per share, with a total value of $178,000.00. Following the completion of the acquisition, the executive vice president now owns 551 shares in the company, valued at approximately $4,903.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 10.00% of the company’s stock.

A number of research analysts have commented on AHP shares. BidaskClub upgraded shares of Ashford Hospitality Prime from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research upgraded shares of Ashford Hospitality Prime from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. ValuEngine cut shares of Ashford Hospitality Prime from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Robert W. Baird reaffirmed a “hold” rating and set a $11.00 price objective on shares of Ashford Hospitality Prime in a report on Friday, September 8th. Finally, B. Riley reaffirmed a “buy” rating on shares of Ashford Hospitality Prime in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $13.17.

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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.

Dividend History for Ashford Hospitality Prime (NYSE:AHP)

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