$103.85 Million in Sales Expected for Ashford Hospitality Prime Inc (AHP) This Quarter
Equities analysts expect Ashford Hospitality Prime Inc (NYSE:AHP) to report $103.85 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Ashford Hospitality Prime’s earnings. The lowest sales estimate is $94.90 million and the highest is $117.04 million. Ashford Hospitality Prime reported sales of $93.98 million in the same quarter last year, which would suggest a positive year over year growth rate of 10.5%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Ashford Hospitality Prime will report full-year sales of $103.85 million for the current year, with estimates ranging from $416.40 million to $444.50 million. For the next year, analysts expect that the firm will post sales of $454.54 million per share, with estimates ranging from $429.50 million to $493.56 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Ashford Hospitality Prime.
A number of equities analysts have weighed in on the company. ValuEngine downgraded Ashford Hospitality Prime from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised Ashford Hospitality Prime from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. BidaskClub raised Ashford Hospitality Prime from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Robert W. Baird reaffirmed a “hold” rating and set a $11.00 price target on shares of Ashford Hospitality Prime in a research report on Friday, September 8th. Finally, B. Riley reaffirmed a “buy” rating on shares of Ashford Hospitality Prime in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Ashford Hospitality Prime has an average rating of “Hold” and a consensus target price of $13.17.
In related news, EVP Jeremy Welter acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was bought at an average price of $8.90 per share, with a total value of $178,000.00. Following the acquisition, the executive vice president now owns 551 shares in the company, valued at approximately $4,903.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Schroder Investment Management Group bought a new stake in Ashford Hospitality Prime in the 2nd quarter valued at $115,000. Dynamic Technology Lab Private Ltd bought a new stake in Ashford Hospitality Prime in the 3rd quarter valued at $109,000. Numeric Investors LLC bought a new stake in Ashford Hospitality Prime in the 2nd quarter valued at $149,000. 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 acquiring an additional 2,477 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in Ashford Hospitality Prime by 7.3% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 21,507 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 1,455 shares during the period. Institutional investors and hedge funds own 64.56% of the company’s stock.
Ashford Hospitality Prime (NYSE:AHP) traded down $0.04 during trading hours on Thursday, reaching $9.73. The company’s stock had a trading volume of 214,700 shares, compared to its average volume of 281,673. Ashford Hospitality Prime has a 52-week low of $8.74 and a 52-week high of $14.87. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 2.57. The firm has a market cap of $313.82, a P/E ratio of 5.85 and a beta of 1.14.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 6.58%. The ex-dividend date is Thursday, December 28th. Ashford Hospitality Prime’s payout ratio is presently -228.56%.
Ashford Hospitality Prime announced that its board has approved a stock repurchase plan on Monday, December 11th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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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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