Ashford Hospitality Prime (NYSE:AHP) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday, February 2nd.
Several other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Ashford Hospitality Prime from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, January 2nd. B. Riley reiterated a “buy” rating on shares of Ashford Hospitality Prime in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.20.
Ashford Hospitality Prime (NYSE AHP) traded down $0.06 during midday trading on Friday, reaching $8.75. 95,200 shares of the company’s stock traded hands, compared to its average volume of 250,693. Ashford Hospitality Prime has a fifty-two week low of $8.44 and a fifty-two week high of $13.83. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 2.57. The stock has a market cap of $282.67, a PE ratio of -31.23 and a beta of 1.00.
Ashford Hospitality Prime declared that its board has authorized a stock repurchase plan on Monday, December 11th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AHP. State Street Corp grew its position in Ashford Hospitality Prime by 17.0% during the second quarter. State Street Corp now owns 1,099,981 shares of the real estate investment trust’s stock valued at $11,320,000 after buying an additional 160,134 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Ashford Hospitality Prime by 56.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 700,678 shares of the real estate investment trust’s stock valued at $7,210,000 after purchasing an additional 251,717 shares in the last quarter. ClariVest Asset Management LLC raised its stake in Ashford Hospitality Prime by 3.1% during the third quarter. ClariVest Asset Management LLC now owns 496,335 shares of the real estate investment trust’s stock valued at $4,715,000 after purchasing an additional 14,718 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Ashford Hospitality Prime by 35.8% during the second quarter. Ameriprise Financial Inc. now owns 474,871 shares of the real estate investment trust’s stock valued at $4,822,000 after purchasing an additional 125,181 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Ashford Hospitality Prime by 2.4% during the third quarter. Dimensional Fund Advisors LP now owns 447,158 shares of the real estate investment trust’s stock valued at $4,248,000 after purchasing an additional 10,418 shares in the last quarter. 63.96% of the stock is owned by hedge funds and other institutional investors.
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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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