Ashford Hospitality Prime (NYSE:AHP) Lifted to Hold at Zacks Investment Research

Ashford Hospitality Prime (NYSE:AHP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, March 15th.

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. “

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A number of other equities research analysts have also recently commented on the stock. B. Riley set a $13.00 target price on shares of Ashford Hospitality Prime and gave the company a “buy” rating in a research report on Thursday, March 1st. ValuEngine upgraded shares of Ashford Hospitality Prime from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $12.33.

Shares of NYSE AHP traded down $0.02 during mid-day trading on Thursday, reaching $10.31. The company’s stock had a trading volume of 227,941 shares, compared to its average volume of 282,768. The stock has a market capitalization of $331.80, a price-to-earnings ratio of 6.36 and a beta of 0.82. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 2.20. Ashford Hospitality Prime has a 1-year low of $8.44 and a 1-year high of $11.34.

Ashford Hospitality Prime (NYSE:AHP) last issued its earnings results on Wednesday, February 28th. The real estate investment trust reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.35. The business had revenue of $92.56 million during the quarter, compared to analysts’ expectations of $100.48 million. Ashford Hospitality Prime had a net margin of 5.56% and a return on equity of 6.28%. equities research analysts expect that Ashford Hospitality Prime will post 1.54 EPS for the current year.

Ashford Hospitality Prime announced that its board has initiated a stock buyback program on Monday, December 11th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of 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 acquiring an additional 160,134 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of 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 acquiring an additional 14,718 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 acquiring an additional 10,418 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Ashford Hospitality Prime by 10.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 421,463 shares of the real estate investment trust’s stock valued at $4,101,000 after acquiring an additional 40,227 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Ashford Hospitality Prime by 13.2% during the second quarter. Northern Trust Corp now owns 334,438 shares of the real estate investment trust’s stock valued at $3,442,000 after acquiring an additional 39,092 shares during the last quarter. Hedge funds and other institutional investors own 68.67% 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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