Ashford Hospitality Prime (NYSE:AHP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $11.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 14.35% from the stock’s previous close.

According to Zacks, “Ashford Hospitality Prime, Inc. is a real estate investment trust. It is focused on investing in high RevPAR full-service and urban select-service hotels and resorts located predominantly in domestic and international gateway markets. Ashford Hospitality Prime, Inc. is based in Dallas, Texas. “

A number of other research analysts have also issued reports on the company. ValuEngine upgraded Ashford Hospitality Prime from a “hold” rating to a “buy” rating in a report on Friday, December 1st. B. Riley restated a “buy” rating on shares of Ashford Hospitality Prime in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Ashford Hospitality Prime presently has an average rating of “Buy” and an average price target of $13.00.

Ashford Hospitality Prime (NYSE AHP) traded down $0.13 during trading hours on Tuesday, reaching $9.62. The company had a trading volume of 179,800 shares, compared to its average volume of 179,844. The stock has a market capitalization of $309.01, a price-to-earnings ratio of -38.48 and a beta of 1.14. Ashford Hospitality Prime has a 52-week low of $8.74 and a 52-week high of $14.87. The company has a debt-to-equity ratio of 2.57, a quick ratio of 3.77 and a current ratio of 3.77.

Ashford Hospitality Prime (NYSE:AHP) last released its earnings results on Wednesday, November 1st. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.46). Ashford Hospitality Prime had a negative net margin of 0.36% and a negative return on equity of 0.43%. equities analysts anticipate that Ashford Hospitality Prime will post 1.6 earnings per share for the current fiscal year.

Ashford Hospitality Prime announced that its board has authorized a share buyback plan on Monday, December 11th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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 shares were bought at an average cost of $8.90 per share, for a total transaction of $178,000.00. Following the completion of the purchase, the executive vice president now directly owns 551 shares in the company, valued at $4,903.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Ashford Hospitality Prime by 0.7% during 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. Rhumbline Advisers increased its position in shares of Ashford Hospitality Prime by 5.5% during 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. Voya Investment Management LLC increased its position in shares of Ashford Hospitality Prime by 16.3% during the second quarter. Voya Investment Management LLC now owns 17,628 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 2,477 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Ashford Hospitality Prime by 17.4% during the second quarter. The Manufacturers Life Insurance Company now owns 24,233 shares of the real estate investment trust’s stock worth $249,000 after purchasing an additional 3,590 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Ashford Hospitality Prime by 19.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 28,672 shares of the real estate investment trust’s stock worth $295,000 after purchasing an additional 4,672 shares in the last quarter. Institutional investors and hedge funds own 64.56% of the company’s stock.

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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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