Ashford Hospitality Prime Inc. (AHP) Receives $14.75 Consensus Price Target from Analysts
Shares of Ashford Hospitality Prime Inc. (NYSE:AHP) have received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the stock. Seven research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $14.75.
Several analysts have issued reports on AHP shares. Deutsche Bank AG reissued a “hold” rating on shares of Ashford Hospitality Prime in a research note on Sunday, June 26th. Canaccord Genuity reissued a “hold” rating and issued a $17.00 price objective on shares of Ashford Hospitality Prime in a research note on Sunday, August 7th. Finally, FBR & Co raised their price objective on shares of Ashford Hospitality Prime from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th.
Shares of Ashford Hospitality Prime (NYSE:AHP) opened at 13.74 on Thursday. The stock has a 50 day moving average price of $14.58 and a 200-day moving average price of $13.58. Ashford Hospitality Prime has a 12 month low of $8.37 and a 12 month high of $17.64. The company’s market capitalization is $352.35 million.
Ashford Hospitality Prime (NYSE:AHP) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Ashford Hospitality Prime had a negative return on equity of 3.29% and a negative net margin of 2.86%. Analysts forecast that Ashford Hospitality Prime will post $1.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.49%. The ex-dividend date was Wednesday, September 28th. Ashford Hospitality Prime’s payout ratio is -87.27%.
Institutional investors have recently modified their holdings of the stock. Foundry Partners LLC acquired a new position in shares of Ashford Hospitality Prime during the second quarter valued at about $3,428,000. Forward Management LLC raised its position in shares of Ashford Hospitality Prime by 561.4% in the second quarter. Forward Management LLC now owns 231,500 shares of the company’s stock valued at $3,273,000 after buying an additional 196,500 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Ashford Hospitality Prime during the second quarter valued at about $2,394,000. Mackenzie Financial Corp acquired a new position in shares of Ashford Hospitality Prime during the second quarter valued at about $1,111,000. Finally, University of Notre Dame DU Lac raised its position in shares of Ashford Hospitality Prime by 74.4% in the first quarter. University of Notre Dame DU Lac now owns 130,237 shares of the company’s stock valued at $1,520,000 after buying an additional 55,566 shares during the last quarter. 83.73% of the stock is currently owned by institutional investors.
About Ashford Hospitality Prime
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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