First Trust Advisors LP Acquires New Stake in Ashford Hospitality Prime Inc. (AHP)
First Trust Advisors LP acquired a new position in shares of Ashford Hospitality Prime Inc. (NYSE:AHP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 10,151 shares of the company’s stock, valued at approximately $144,000.
Several other hedge funds also recently added to or reduced their stakes in AHP. Forward Management LLC raised its stake in shares of Ashford Hospitality Prime by 561.4% in the second quarter. Forward Management LLC now owns 231,500 shares of the company’s stock worth $3,273,000 after buying an additional 196,500 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Ashford Hospitality Prime during the second quarter worth approximately $240,000. Spot Trading L.L.C acquired a new stake in shares of Ashford Hospitality Prime during the second quarter worth approximately $270,000. Bank of New York Mellon Corp raised its stake in shares of Ashford Hospitality Prime by 8.9% in the second quarter. Bank of New York Mellon Corp now owns 169,866 shares of the company’s stock worth $2,402,000 after buying an additional 13,854 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Ashford Hospitality Prime by 1.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,323 shares of the company’s stock worth $217,000 after buying an additional 262 shares during the last quarter. 83.73% of the stock is owned by hedge funds and other institutional investors.
Shares of Ashford Hospitality Prime Inc. (NYSE:AHP) traded up 0.29% during trading on Wednesday, hitting $13.82. The stock had a trading volume of 22,073 shares. Ashford Hospitality Prime Inc. has a 12 month low of $8.37 and a 12 month high of $17.64. The company’s market cap is $354.40 million. The stock has a 50-day moving average price of $14.52 and a 200 day moving average price of $13.59.
Ashford Hospitality Prime (NYSE:AHP) last released its earnings results on Thursday, August 4th. The company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Ashford Hospitality Prime had a negative net margin of 2.86% and a negative return on equity of 3.29%. Equities analysts expect that Ashford Hospitality Prime Inc. will post $1.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Wednesday, September 28th. Ashford Hospitality Prime’s dividend payout ratio is currently -87.27%.
A number of analysts recently commented on the company. Deutsche Bank AG reaffirmed a “hold” rating on shares of Ashford Hospitality Prime in a research note on Sunday, June 26th. FBR & Co increased their price objective on Ashford Hospitality Prime from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $17.00 price objective on shares of Ashford Hospitality Prime in a report on Sunday, August 7th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.00.
Ashford Hospitality Prime Company Profile
Ashford Hospitality Prime, Inc invests in high revenue per available room (RevPAR), luxury, upper-upscale and upscale hotels in gateway and resort locations. The Company conducts its business and owns all of its assets through its operating partnership, Ashford Hospitality Prime Limited Partnership. It operates in the direct hotel investment segment of the hotel lodging industry.
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