Ashford Hospitality Prime, Inc. (AHP) Raised to Buy at ValuEngine
ValuEngine upgraded shares of Ashford Hospitality Prime, Inc. (NYSE:AHP) from a hold rating to a buy rating in a research note issued to investors on Monday morning.
Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Ashford Hospitality Prime from a hold rating to a buy rating and set a $12.00 target price on the stock in a research report on Wednesday, July 5th. Robert W. Baird restated a hold rating and issued a $11.00 target price on shares of Ashford Hospitality Prime in a research report on Friday, September 8th. BidaskClub upgraded shares of Ashford Hospitality Prime from a strong sell rating to a sell rating in a research report on Saturday, August 26th. Canaccord Genuity restated a hold rating and issued a $11.00 target price on shares of Ashford Hospitality Prime in a research report on Monday, June 26th. Finally, Deutsche Bank AG upgraded shares of Ashford Hospitality Prime from a hold rating to a buy rating and cut their target price 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 assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $13.17.
Shares of Ashford Hospitality Prime (NYSE AHP) opened at 9.87 on Monday. Ashford Hospitality Prime has a 1-year low of $9.02 and a 1-year high of $14.87. The firm has a market cap of $310.59 million, a price-to-earnings ratio of 25.57 and a beta of 1.17. The stock has a 50 day moving average price of $9.58 and a 200-day moving average price of $10.13.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.48%. Ashford Hospitality Prime’s dividend payout ratio (DPR) is presently 177.78%.
Large investors have recently modified their holdings of the company. Two Sigma Securities LLC acquired a new position in shares of Ashford Hospitality Prime during the first quarter worth $110,000. Bank of Montreal Can acquired a new position in shares of Ashford Hospitality Prime during the first quarter worth $113,000. Schroder Investment Management Group acquired a new position in shares of Ashford Hospitality Prime during the second quarter worth $115,000. Numeric Investors LLC bought a new position in Ashford Hospitality Prime during the second quarter worth $149,000. Finally, Voya Investment Management LLC raised its stake in Ashford Hospitality Prime by 16.3% during the second quarter. Voya Investment Management LLC now owns 17,628 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 2,477 shares during the last quarter. Institutional investors own 69.39% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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