Ashford Hospitality Prime Inc. (AHP) Shares Up 3.2%
Ashford Hospitality Prime Inc. (NYSE:AHP) shares shot up 3.2% during trading on Thursday . The company traded as high as $14.78 and last traded at $14.63, with a volume of 478,148 shares trading hands. The stock had previously closed at $14.18.
A number of brokerages recently commented on AHP. Canaccord Genuity reaffirmed a “hold” rating and set a $12.00 price objective on shares of Ashford Hospitality Prime in a research report on Thursday, June 9th. Zacks Investment Research downgraded shares of Ashford Hospitality Prime from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Robert W. Baird reaffirmed a “hold” rating on shares of Ashford Hospitality Prime in a research report on Sunday, May 8th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Ashford Hospitality Prime in a research report on Sunday, June 26th. Finally, Janney Montgomery Scott began coverage on shares of Ashford Hospitality Prime in a research report on Tuesday, March 22nd. They set a “neutral” rating and a $12.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Ashford Hospitality Prime presently has a consensus rating of “Hold” and a consensus target price of $14.75.
The stock’s market capitalization is $416.30 million. The firm has a 50 day moving average price of $12.95 and a 200 day moving average price of $11.69.
Ashford Hospitality Prime (NYSE:AHP) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $99.80 million for the quarter, compared to analyst estimates of $97.38 million. On average, equities analysts anticipate that Ashford Hospitality Prime Inc. will post $1.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.28%. This is an increase from Ashford Hospitality Prime’s previous quarterly dividend of $0.10.
An institutional investor recently raised its position in Ashford Hospitality Prime stock. Dimensional Fund Advisors LP boosted its position in shares of Ashford Hospitality Prime Inc. (NYSE:AHP) by 3.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 370,818 shares of the company’s stock after buying an additional 10,677 shares during the period. Dimensional Fund Advisors LP owned approximately 1.30% of Ashford Hospitality Prime worth $5,377,000 as of its most recent SEC filing.
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.