Ashford Hospitality Prime Inc. (AHP) Trading 3.2% Higher
Ashford Hospitality Prime Inc. (NYSE:AHP) traded up 3.2% on Thursday . The company traded as high as $14.78 and last traded at $14.63, with a volume of 478,148 shares. The stock had previously closed at $14.18.
A number of equities research analysts have weighed in on the stock. Robert W. Baird reiterated a “hold” rating on shares of Ashford Hospitality Prime in a research note on Sunday, May 8th. Deutsche Bank AG restated a “hold” rating on shares of Ashford Hospitality Prime in a research note on Sunday, June 26th. FBR & Co restated a “buy” rating on shares of Ashford Hospitality Prime in a research note on Thursday, May 5th. Janney Montgomery Scott assumed coverage on shares of Ashford Hospitality Prime in a research note on Monday, May 23rd. They issued a “neutral” rating and a $11.00 target price on the stock. Finally, Canaccord Genuity restated a “hold” rating and issued a $11.00 target price on shares of Ashford Hospitality Prime in a research note on Thursday, April 21st. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $14.75.
The stock’s 50-day moving average price is $13.07 and its 200-day moving average price is $11.69. The firm’s market capitalization is $420.00 million.
Ashford Hospitality Prime (NYSE:AHP) last posted 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 earned $99.80 million during the quarter, compared to analyst estimates of $97.38 million. Equities analysts predict that Ashford Hospitality Prime Inc. will post $1.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.25%. The ex-dividend date is Tuesday, June 28th. This is a positive change from Ashford Hospitality Prime’s previous quarterly dividend of $0.10.
A hedge fund recently raised its stake in Ashford Hospitality Prime stock. State of New Jersey Common Pension Fund D boosted its stake in Ashford Hospitality Prime Inc. (NYSE:AHP) by 5.9% during the fourth quarter, Holdings Channel reports. The fund owned 356,502 shares of the company’s stock after buying an additional 20,000 shares during the period. State of New Jersey Common Pension Fund D owned 1.25% of Ashford Hospitality Prime worth $5,170,000 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.