Ashford Hospitality Prime Inc. (AHP) Sees Large Volume Increase
Ashford Hospitality Prime Inc. (NYSE:AHP) saw an uptick in trading volume on Monday . 523,286 shares traded hands during mid-day trading, an increase of 17% from the previous session’s volume of 448,479 shares.The stock last traded at $15.00 and had previously closed at $14.76.
A number of research firms have issued reports on AHP. Deutsche Bank AG reiterated a “hold” rating on shares of Ashford Hospitality Prime in a research report on Sunday, June 26th. Canaccord Genuity reiterated a “hold” rating and issued a $12.00 target price on shares of Ashford Hospitality Prime in a research report on Thursday, June 9th. Janney Montgomery Scott began coverage on shares of Ashford Hospitality Prime in a research report on Monday, May 23rd. They issued a “neutral” rating and a $11.00 target price for the company. 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. Finally, Robert W. Baird reiterated a “hold” rating on shares of Ashford Hospitality Prime in a research report on Sunday, May 8th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.75.
The stock’s market cap is $425.40 million. The stock’s 50-day moving average price is $13.19 and its 200-day moving average price is $11.65.
Ashford Hospitality Prime (NYSE:AHP) last released its quarterly earnings results on Wednesday, May 4th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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. Equities research analysts anticipate that Ashford Hospitality Prime Inc. will post $1.77 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, June 28th. This represents a $0.48 annualized dividend and a dividend yield of 3.21%. 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 stake in Ashford Hospitality Prime Inc. (NYSE:AHP) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.
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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