Ashford Hospitality Prime, Inc. (NYSE:AHP) announced a quarterly dividend on Thursday, September 14th, Wall Street Journal reports. Investors of record on Saturday, September 30th will be paid a dividend of 0.16 per share by the real estate investment trust on Monday, October 16th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date is Thursday, September 28th.

Ashford Hospitality Prime has a dividend payout ratio of 40.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ashford Hospitality Prime to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 40.3%.

Shares of Ashford Hospitality Prime (NYSE:AHP) opened at 9.66 on Friday. Ashford Hospitality Prime has a 52 week low of $9.02 and a 52 week high of $14.89. The stock has a market capitalization of $303.98 million, a PE ratio of 25.03 and a beta of 1.17. The company’s 50 day moving average is $9.68 and its 200-day moving average is $10.19.

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Several analysts have commented on the stock. Zacks Investment Research raised shares of Ashford Hospitality Prime from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Wednesday, July 5th. ValuEngine lowered shares of Ashford Hospitality Prime from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Robert W. Baird reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Ashford Hospitality Prime in a research report on Friday, September 8th. BidaskClub raised shares of Ashford Hospitality Prime from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Ashford Hospitality Prime in a research report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $13.17.

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.

Dividend History for Ashford Hospitality Prime (NYSE:AHP)

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