Ashford Hospitality Prime Inc. (AHP) Trading Up 3.2%
Ashford Hospitality Prime Inc. (NYSE:AHP)’s share price was up 3.2% during trading on Thursday . The company traded as high as $16.40 and last traded at $15.08, with a volume of 519,211 shares. The stock had previously closed at $14.61.
A number of equities analysts have recently commented on AHP shares. FBR & Co restated a “buy” rating on shares of Ashford Hospitality Prime in a research note on Thursday, May 5th. Zacks Investment Research upgraded shares of Ashford Hospitality Prime from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, May 10th. Deutsche Bank AG reiterated a “hold” rating on shares of Ashford Hospitality Prime in a research note 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 note on Thursday, June 9th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Ashford Hospitality Prime in a research note on Sunday, May 8th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.56.
The stock’s 50 day moving average is $14.16 and its 200 day moving average is $11.75. The stock’s market capitalization is $434.22 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 the consensus estimate of $0.35 by $0.05. The business had revenue of $99.80 million for the quarter, compared to analysts’ expectations of $97.38 million. Analysts predict that Ashford Hospitality Prime Inc. will post $1.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.12 dividend. This is a boost from Ashford Hospitality Prime’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 3.15%. The ex-dividend date was Tuesday, June 28th.
A hedge fund recently raised its stake 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 disclosure with the Securities and Exchange Commission. 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 about 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.
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