Ironwood Investment Management LLC Purchases 1,500 Shares of Ashford Hospitality Prime, Inc. (NYSE:AHP)

Ironwood Investment Management LLC boosted its position in Ashford Hospitality Prime, Inc. (NYSE:AHP) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,294 shares of the real estate investment trust’s stock after buying an additional 1,500 shares during the period. Ironwood Investment Management LLC’s holdings in Ashford Hospitality Prime were worth $662,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AHP. Great West Life Assurance Co. Can raised its position in shares of Ashford Hospitality Prime by 45.9% in the second quarter. Great West Life Assurance Co. Can now owns 27,964 shares of the real estate investment trust’s stock worth $287,000 after buying an additional 8,800 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Ashford Hospitality Prime by 39.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 64,420 shares of the real estate investment trust’s stock worth $663,000 after buying an additional 18,280 shares during the period. Forsta AP Fonden purchased a new position in shares of Ashford Hospitality Prime during the second quarter worth $206,000. Bank of Montreal Can raised its position in shares of Ashford Hospitality Prime by 1,135.7% in the second quarter. Bank of Montreal Can now owns 131,816 shares of the real estate investment trust’s stock worth $1,356,000 after buying an additional 121,149 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Ashford Hospitality Prime by 9.6% in the first quarter. Nomura Asset Management Co. Ltd. now owns 18,250 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 1,600 shares during the period. Institutional investors own 68.20% of the company’s stock.

Ashford Hospitality Prime, Inc. (NYSE:AHP) opened at 10.05 on Friday. The firm’s 50-day moving average price is $10.35 and its 200-day moving average price is $11.11. The company has a market cap of $321.12 million, a price-to-earnings ratio of 26.17 and a beta of 1.16. Ashford Hospitality Prime, Inc. has a 1-year low of $9.28 and a 1-year high of $17.64.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.64 dividend on an annualized basis and a yield of 6.37%. Ashford Hospitality Prime’s payout ratio is 177.78%.

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AHP has been the topic of a number of recent research reports. BidaskClub lowered Ashford Hospitality Prime from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded Ashford Hospitality Prime from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Wednesday, July 5th. Canaccord Genuity restated a “hold” rating and set a $11.00 price objective on shares of Ashford Hospitality Prime in a research note on Monday, June 26th. ValuEngine lowered Ashford Hospitality Prime from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Deutsche Bank AG upgraded Ashford Hospitality Prime from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $14.00 to $13.00 in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Ashford Hospitality Prime has a consensus rating of “Hold” and a consensus price target of $13.60.

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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