Ashford Hospitality Prime (NYSE:AHP) Cut to “Hold” at ValuEngine

Ashford Hospitality Prime (NYSE:AHP) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, February 2nd.

A number of other equities analysts also recently commented on the company. 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 16th. B. Riley restated a “buy” rating on shares of Ashford Hospitality Prime in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $12.20.

Shares of Ashford Hospitality Prime (AHP) opened at $9.04 on Friday. The company has a debt-to-equity ratio of 2.57, a current ratio of 3.77 and a quick ratio of 3.77. The firm has a market capitalization of $290.38, a P/E ratio of -36.16 and a beta of 1.00. Ashford Hospitality Prime has a 12-month low of $8.44 and a 12-month high of $13.83.

Ashford Hospitality Prime declared that its Board of Directors has approved a share repurchase plan on Monday, December 11th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its holdings in Ashford Hospitality Prime by 56.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 700,678 shares of the real estate investment trust’s stock worth $7,210,000 after purchasing an additional 251,717 shares in the last quarter. Rhumbline Advisers raised its holdings in Ashford Hospitality Prime by 5.5% in the second quarter. Rhumbline Advisers now owns 39,940 shares of the real estate investment trust’s stock worth $411,000 after purchasing an additional 2,081 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Ashford Hospitality Prime by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 217,507 shares of the real estate investment trust’s stock worth $2,238,000 after purchasing an additional 1,557 shares in the last quarter. Swiss National Bank raised its holdings in Ashford Hospitality Prime by 86.8% in the second quarter. Swiss National Bank now owns 78,354 shares of the real estate investment trust’s stock worth $806,000 after purchasing an additional 36,400 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Ashford Hospitality Prime by 174.4% in the second quarter. Alliancebernstein L.P. now owns 87,819 shares of the real estate investment trust’s stock worth $904,000 after purchasing an additional 55,810 shares in the last quarter. Institutional investors own 63.96% 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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Analyst Recommendations for Ashford Hospitality Prime (NYSE:AHP)

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