Wall Street analysts expect that Ashford Hospitality Prime, Inc. (NYSE:AHP) will announce $112.31 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Ashford Hospitality Prime’s earnings. The highest sales estimate is $114.07 million and the lowest is $110.36 million. Ashford Hospitality Prime reported sales of $99.65 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.7%. The business is expected to announce its next quarterly earnings report on Wednesday, November 1st.

According to Zacks, analysts expect that Ashford Hospitality Prime will report full year sales of $112.31 million for the current financial year, with estimates ranging from $433.20 million to $444.50 million. For the next financial year, analysts expect that the company will report sales of $470.47 million per share, with estimates ranging from $462.19 million to $493.56 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Ashford Hospitality Prime.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Ashford Hospitality Prime from a “buy” rating to a “sell” rating in a report on Wednesday. ValuEngine cut Ashford Hospitality Prime from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Canaccord Genuity reaffirmed a “hold” rating and issued a $11.00 price target on shares of Ashford Hospitality Prime in a report on Monday, June 26th. BidaskClub cut Ashford Hospitality Prime from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Deutsche Bank AG raised Ashford Hospitality Prime from a “hold” rating to a “buy” rating and cut their price target for the company from $14.00 to $13.00 in a report on Friday, June 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Ashford Hospitality Prime currently has an average rating of “Hold” and an average price target of $13.60.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AHP. LSV Asset Management raised its stake in shares of Ashford Hospitality Prime by 31.6% in the first quarter. LSV Asset Management now owns 779,488 shares of the real estate investment trust’s stock worth $8,270,000 after buying an additional 187,046 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Ashford Hospitality Prime by 8.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 28,807 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 2,364 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Ashford Hospitality Prime by 12.1% in the first quarter. Great West Life Assurance Co. Can now owns 19,164 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 2,070 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Ashford Hospitality Prime by 218.8% in the first quarter. Wells Fargo & Company MN now owns 55,556 shares of the real estate investment trust’s stock worth $589,000 after buying an additional 38,130 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Ashford Hospitality Prime during the first quarter worth approximately $335,000. 68.17% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “$112.31 Million in Sales Expected for Ashford Hospitality Prime, Inc. (NYSE:AHP) This Quarter” was first posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark laws. The legal version of this news story can be read at https://www.dailypolitical.com/2017/08/11/112-31-million-in-sales-expected-for-ashford-hospitality-prime-inc-nyseahp-this-quarter.html.

Ashford Hospitality Prime (AHP) opened at 9.61 on Friday. The company has a market cap of $302.41 million, a price-to-earnings ratio of 25.03 and a beta of 1.16. The company has a 50-day moving average of $10.33 and a 200-day moving average of $10.97. Ashford Hospitality Prime has a 12 month low of $9.28 and a 12 month high of $15.87.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.66%. Ashford Hospitality Prime’s dividend payout ratio is 177.78%.

About Ashford Hospitality Prime

Ashford Hospitality Prime, Inc invests in high revenue per available room (RevPAR), luxury hotels and resorts. The Company conducts its business and owns all of its assets through its operating partnership, Ashford Hospitality Prime Limited Partnership (Ashford Prime OP). The Company operates in the direct hotel investment segment of the hotel lodging industry.

Get a free copy of the Zacks research report on Ashford Hospitality Prime (AHP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ashford Hospitality Prime (NYSE:AHP)

Receive News & Ratings for Ashford Hospitality Prime Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashford Hospitality Prime Inc. and related companies with MarketBeat.com's FREE daily email newsletter.