American Hotel Income Properties REIT LP (TSE:HOT.UN – Get Free Report)’s stock price dropped 13.4% on Wednesday . The stock traded as low as C$0.57 and last traded at C$0.58. Approximately 110,576 shares traded hands during mid-day trading, an increase of 46% from the average daily volume of 75,545 shares. The stock had previously closed at C$0.67.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. CIBC cut American Hotel Income Properties REIT from a “neutral” rating to an “underperform” rating and dropped their target price for the company from C$0.75 to C$0.50 in a report on Thursday, February 29th. Royal Bank of Canada lowered their price target on shares of American Hotel Income Properties REIT from C$0.75 to C$0.70 and set a “sector perform” rating for the company in a report on Wednesday, March 6th.
Check Out Our Latest Research Report on HOT.UN
American Hotel Income Properties REIT Trading Down 14.9 %
About American Hotel Income Properties REIT
American Hotel Income Properties REIT LP (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.U), or AHIP, is a limited partnership formed to invest in hotel real estate properties located substantially in the United States. AHIP currently has 112 hotels, and is engaged in growing its portfolio of premium branded, select-service hotels in larger secondary markets that have diverse and stable demand.
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