Glacier Peak Capital LLC boosted its position in Ashford Hospitality Prime (NYSE:AHP) by 38.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,467 shares of the real estate investment trust’s stock after buying an additional 76,117 shares during the period. Ashford Hospitality Prime makes up about 3.4% of Glacier Peak Capital LLC’s holdings, making the stock its 11th biggest position. Glacier Peak Capital LLC owned approximately 0.86% of Ashford Hospitality Prime worth $2,680,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ashford Hospitality Prime during the 3rd quarter worth $109,000. Voya Investment Management LLC raised its stake in 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 valued at $181,000 after purchasing an additional 2,477 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Ashford Hospitality Prime by 17.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,233 shares of the real estate investment trust’s stock valued at $249,000 after purchasing an additional 3,590 shares during the last quarter. Wells Fargo & Company MN raised its stake in Ashford Hospitality Prime by 40.6% in the 3rd quarter. Wells Fargo & Company MN now owns 40,771 shares of the real estate investment trust’s stock valued at $386,000 after purchasing an additional 11,782 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Ashford Hospitality Prime by 45.5% during the 4th quarter. American Century Companies Inc. now owns 50,775 shares of the real estate investment trust’s stock valued at $494,000 after acquiring an additional 15,867 shares during the last quarter. Hedge funds and other institutional investors own 68.67% of the company’s stock.
AHP stock opened at $10.31 on Friday. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 2.20. The company has a market cap of $328.91, a P/E ratio of 6.36 and a beta of 0.82. Ashford Hospitality Prime has a 12-month low of $8.44 and a 12-month high of $11.34.
Ashford Hospitality Prime (NYSE:AHP) last posted its quarterly earnings results on Wednesday, February 28th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.35. Ashford Hospitality Prime had a return on equity of 6.28% and a net margin of 5.56%. The business had revenue of $92.56 million for the quarter, compared to analyst estimates of $100.48 million. sell-side analysts expect that Ashford Hospitality Prime will post 1.54 earnings per share for the current year.
Ashford Hospitality Prime announced that its Board of Directors has authorized a stock buyback program on Monday, December 11th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend is Wednesday, March 28th. Ashford Hospitality Prime’s dividend payout ratio is presently 39.51%.
AHP has been the subject of a number of research reports. Zacks Investment Research upgraded Ashford Hospitality Prime from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday, January 2nd. ValuEngine cut Ashford Hospitality Prime from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, B. Riley set a $13.00 price target on Ashford Hospitality Prime and gave the stock a “buy” rating in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Ashford Hospitality Prime currently has an average rating of “Hold” and a consensus target price of $12.33.
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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.
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