Ashford Hospitality Prime (NYSE:AHP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Ashford Hospitality Prime, Inc. is a real estate investment trust. It is focused on investing in high RevPAR full-service and urban select-service hotels and resorts located predominantly in domestic and international gateway markets. Ashford Hospitality Prime, Inc. is based in Dallas, Texas. “

A number of other research analysts have also issued reports on AHP. ValuEngine raised shares of Ashford Hospitality Prime from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. B. Riley reissued a “buy” rating on shares of Ashford Hospitality Prime in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $13.00.

Ashford Hospitality Prime (NYSE AHP) traded down $0.13 during trading on Monday, reaching $9.62. 179,800 shares of the company’s stock were exchanged, compared to its average volume of 179,844. The company has a debt-to-equity ratio of 2.57, a current ratio of 3.77 and a quick ratio of 3.77. The firm has a market cap of $309.01, a price-to-earnings ratio of -38.48 and a beta of 1.14. Ashford Hospitality Prime has a 52-week low of $8.74 and a 52-week high of $14.87.

Ashford Hospitality Prime (NYSE:AHP) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.46). Ashford Hospitality Prime had a negative net margin of 0.36% and a negative return on equity of 0.43%. research analysts anticipate that Ashford Hospitality Prime will post 1.6 earnings per share for the current year.

Ashford Hospitality Prime announced that its board has approved a share repurchase program on Monday, December 11th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

In related news, EVP Jeremy Welter purchased 20,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were bought at an average cost of $8.90 per share, for a total transaction of $178,000.00. Following the transaction, the executive vice president now owns 551 shares of the company’s stock, valued at $4,903.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in AHP. Schwab Charles Investment Management Inc. raised its position in shares of Ashford Hospitality Prime by 56.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 700,678 shares of the real estate investment trust’s stock worth $7,210,000 after buying an additional 251,717 shares in the last quarter. Rhumbline Advisers raised its position in shares of Ashford Hospitality Prime by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 39,940 shares of the real estate investment trust’s stock worth $411,000 after buying an additional 2,081 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Ashford Hospitality Prime by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 217,507 shares of the real estate investment trust’s stock worth $2,238,000 after buying an additional 1,557 shares in the last quarter. Swiss National Bank raised its position in shares of Ashford Hospitality Prime by 86.8% during the 2nd quarter. Swiss National Bank now owns 78,354 shares of the real estate investment trust’s stock worth $806,000 after buying an additional 36,400 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Ashford Hospitality Prime by 83.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 615,539 shares of the real estate investment trust’s stock worth $6,333,000 after buying an additional 279,810 shares in the last quarter. Institutional investors own 64.56% of the company’s stock.

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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.

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