Ashford Hospitality Prime (NYSE:AHP) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday, December 1st.
Several other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Ashford Hospitality Prime from a “sell” rating to a “hold” rating in a report on Monday, August 28th. BidaskClub raised shares of Ashford Hospitality Prime from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Robert W. Baird reaffirmed a “hold” rating and set a $11.00 price target on shares of Ashford Hospitality Prime in a research note on Friday, September 8th. Finally, B. Riley reissued a “buy” rating on shares of Ashford Hospitality Prime in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Ashford Hospitality Prime currently has an average rating of “Hold” and a consensus price target of $13.17.
Ashford Hospitality Prime (NYSE:AHP) traded up $0.53 during midday trading on Friday, reaching $9.77. 398,200 shares of the company’s stock were exchanged, compared to its average volume of 270,906. Ashford Hospitality Prime has a one year low of $8.74 and a one year high of $14.87. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $295.06, a price-to-earnings ratio of 5.53 and a beta of 1.14.
Ashford Hospitality Prime declared that its board has initiated a share buyback program on Monday, December 11th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other Ashford Hospitality Prime news, EVP Jeremy Welter purchased 20,000 shares of Ashford Hospitality Prime stock in a transaction dated Tuesday, November 7th. The shares were bought at an average cost of $8.90 per share, for a total transaction of $178,000.00. Following the transaction, the executive vice president now owns 551 shares in the company, valued at approximately $4,903.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 10.00% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new position in Ashford Hospitality Prime during the 3rd quarter valued at about $109,000. Schroder Investment Management Group acquired a new position in Ashford Hospitality Prime during the 2nd quarter valued at about $115,000. Numeric Investors LLC acquired a new position in Ashford Hospitality Prime during the 2nd quarter valued at about $149,000. Voya Investment Management LLC grew its stake in shares of Ashford Hospitality Prime by 16.3% in the 2nd quarter. Voya Investment Management LLC now owns 17,628 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 2,477 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of Ashford Hospitality Prime by 7.3% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 21,507 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 1,455 shares during the last quarter. Hedge funds and other institutional investors own 65.06% of the company’s stock.
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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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