Equities research analysts predict that Ashford Hospitality Prime Inc (NYSE:AHP) will post sales of $103.61 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Ashford Hospitality Prime’s earnings, with the highest sales estimate coming in at $116.08 million and the lowest estimate coming in at $94.90 million. Ashford Hospitality Prime posted sales of $93.98 million during the same quarter last year, which would indicate a positive year over year growth rate of 10.2%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, February 8th.
On average, analysts expect that Ashford Hospitality Prime will report full year sales of $103.61 million for the current fiscal year, with estimates ranging from $416.40 million to $437.58 million. For the next year, analysts forecast that the firm will post sales of $453.95 million per share, with estimates ranging from $429.50 million to $491.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ashford Hospitality Prime.
Several research firms have recently commented on AHP. B. Riley reiterated a “buy” rating on shares of Ashford Hospitality Prime in a research report on Friday, November 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 issued a $11.00 price target on shares of Ashford Hospitality Prime in a research report on Friday, September 8th. Finally, Zacks Investment Research upgraded shares of Ashford Hospitality Prime from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Ashford Hospitality Prime currently has a consensus rating of “Buy” and an average target price of $13.00.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 6.53%. The ex-dividend date is Thursday, December 28th. Ashford Hospitality Prime’s payout ratio is -256.00%.
Ashford Hospitality Prime declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 11th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
In other news, EVP Jeremy Welter acquired 20,000 shares of Ashford Hospitality Prime stock in a transaction that occurred on Tuesday, November 7th. The shares were acquired at an average price of $8.90 per share, with a total value of $178,000.00. Following the completion of the purchase, the executive vice president now owns 551 shares of the company’s stock, valued at approximately $4,903.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 10.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in AHP. Dynamic Technology Lab Private Ltd purchased a new position in Ashford Hospitality Prime during the third quarter worth approximately $109,000. Schroder Investment Management Group purchased a new position in Ashford Hospitality Prime during the second quarter worth approximately $115,000. Numeric Investors LLC purchased a new position in Ashford Hospitality Prime during the second quarter worth approximately $149,000. Voya Investment Management LLC raised its stake in Ashford Hospitality Prime by 16.3% during the second quarter. Voya Investment Management LLC now owns 17,628 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 2,477 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Ashford Hospitality Prime by 17.4% during the second quarter. The Manufacturers Life Insurance Company now owns 24,233 shares of the real estate investment trust’s stock worth $249,000 after purchasing an additional 3,590 shares during the period. 64.56% of the stock is currently owned by institutional investors and hedge funds.
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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.
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