Ashford Hospitality Prime, Inc. (NYSE:AHP) saw a large decline in short interest in October. As of October 13th, there was short interest totalling 487,616 shares, a decline of 37.2% from the September 29th total of 776,108 shares. Based on an average daily volume of 204,108 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.6% of the shares of the company are short sold.
AHP has been the topic of several recent research reports. B. Riley reiterated a “buy” rating on shares of Ashford Hospitality Prime in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Ashford Hospitality Prime from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. ValuEngine raised shares of Ashford Hospitality Prime from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Robert W. Baird reaffirmed a “hold” rating and issued a $11.00 target price on shares of Ashford Hospitality Prime in a research note on Friday, September 8th. Finally, BidaskClub upgraded shares of Ashford Hospitality Prime from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $13.17.
In other Ashford Hospitality Prime news, EVP Jeremy Welter purchased 20,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was bought at an average cost of $8.90 per share, for a total transaction of $178,000.00. Following the acquisition, the executive vice president now owns 551 shares of the company’s stock, valued at approximately $4,903.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.00% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Ashford Hospitality Prime by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 4,275,883 shares of the real estate investment trust’s stock valued at $45,367,000 after acquiring an additional 626,155 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Ashford Hospitality Prime by 83.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 615,539 shares of the real estate investment trust’s stock valued at $6,333,000 after acquiring an additional 279,810 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Ashford Hospitality Prime by 56.1% in the 2nd 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 acquiring an additional 251,717 shares during the period. Ameriprise Financial Inc. increased its position in shares of Ashford Hospitality Prime by 230.6% during the first quarter. Ameriprise Financial Inc. now owns 349,690 shares of the real estate investment trust’s stock valued at $3,710,000 after buying an additional 243,930 shares during the period. Finally, 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 buying an additional 160,134 shares during the period. Institutional investors own 66.50% of the company’s stock.
Ashford Hospitality Prime (AHP) opened at $9.26 on Monday. The company has a debt-to-equity ratio of 2.57, a current ratio of 3.77 and a quick ratio of 3.77. Ashford Hospitality Prime has a 1 year low of $8.74 and a 1 year high of $14.87. The firm has a market cap of $295.70, a PE ratio of 5.54 and a beta of 1.18.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Saturday, September 30th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.64 dividend on an annualized basis and a yield of 6.91%. Ashford Hospitality Prime’s payout ratio is -228.56%.
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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