Zacks Investment Research upgraded shares of Ashford Hospitality Prime, Inc. (NYSE:AHP) from a sell rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Ashford Hospitality Prime, Inc. is a real estate investment trust. It is focused on investing in high RevPAR full-service and urban select-service hotels and resorts located predominantly in domestic and international gateway markets. Ashford Hospitality Prime, Inc. is based in Dallas, Texas. “

Several other research firms have also recently commented on AHP. ValuEngine upgraded Ashford Hospitality Prime from a hold rating to a buy rating in a research note on Monday. BidaskClub raised Ashford Hospitality Prime from a strong sell rating to a sell rating in a research report on Saturday, August 26th. Robert W. Baird reissued a hold rating and set a $11.00 price target on shares of Ashford Hospitality Prime in a research report on Friday, September 8th. Canaccord Genuity reissued a hold rating and set a $11.00 price target on shares of Ashford Hospitality Prime in a research report on Monday, June 26th. Finally, Deutsche Bank AG raised Ashford Hospitality Prime from a hold rating to a buy rating and dropped their price target for the company from $14.00 to $13.00 in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $13.17.

Shares of Ashford Hospitality Prime (NYSE AHP) opened at 10.05 on Tuesday. The firm’s 50-day moving average is $9.60 and its 200-day moving average is $10.13. Ashford Hospitality Prime has a 12-month low of $9.02 and a 12-month high of $14.87. The firm has a market cap of $316.25 million, a PE ratio of 26.04 and a beta of 1.17.

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The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend is Thursday, September 28th. Ashford Hospitality Prime’s dividend payout ratio is currently 177.78%.

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in shares of Ashford Hospitality Prime by 18.3% during the 1st quarter. JPMorgan Chase & Co. now owns 335,729 shares of the real estate investment trust’s stock valued at $3,563,000 after acquiring an additional 51,823 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Ashford Hospitality Prime during the 1st quarter valued at approximately $335,000. Swiss National Bank raised its position in shares of Ashford Hospitality Prime by 10.8% during the 1st quarter. Swiss National Bank now owns 41,954 shares of the real estate investment trust’s stock valued at $445,000 after acquiring an additional 4,100 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Ashford Hospitality Prime by 48.8% during the 1st quarter. Teachers Advisors LLC now owns 116,496 shares of the real estate investment trust’s stock valued at $1,236,000 after acquiring an additional 38,211 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Ashford Hospitality Prime by 25.1% during the 2nd quarter. Prudential Financial Inc. now owns 757,786 shares of the real estate investment trust’s stock valued at $7,797,000 after acquiring an additional 152,070 shares in the last quarter. 69.39% of the stock is currently owned by institutional investors and hedge funds.

Ashford Hospitality Prime Company Profile

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.

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