Ashford Hospitality Prime Inc. (AHP) Shares Up 3.2%
Ashford Hospitality Prime Inc. (NYSE:AHP)’s share price shot up 3.2% during mid-day trading on Thursday . The company traded as high as $16.40 and last traded at $15.08, with a volume of 519,211 shares traded. The stock had previously closed at $14.61.
A number of research firms have issued reports on AHP. Canaccord Genuity restated a “hold” rating and set a $12.00 price target on shares of Ashford Hospitality Prime in a report on Thursday, June 9th. Deutsche Bank AG reiterated a “hold” rating on shares of Ashford Hospitality Prime in a report on Sunday, June 26th. Zacks Investment Research upgraded Ashford Hospitality Prime from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, May 10th. Robert W. Baird reiterated a “hold” rating on shares of Ashford Hospitality Prime in a report on Sunday, May 8th. Finally, FBR & Co reiterated a “buy” rating on shares of Ashford Hospitality Prime in a report on Thursday, May 5th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $14.28.
The firm’s 50-day moving average is $13.93 and its 200 day moving average is $11.72. The company’s market cap is $430.24 million.
Ashford Hospitality Prime (NYSE:AHP) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by $0.05. The business earned $99.80 million during the quarter, compared to analyst estimates of $97.38 million. On average, equities analysts anticipate that Ashford Hospitality Prime Inc. will post $1.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Tuesday, June 28th. This is a positive change from Ashford Hospitality Prime’s previous quarterly dividend of $0.10.
An institutional investor recently raised its position in Ashford Hospitality Prime stock. State of New Jersey Common Pension Fund D raised its stake in Ashford Hospitality Prime Inc. (NYSE:AHP) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 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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