Ashford Hospitality Prime, Inc. (NYSE:AHP) shares saw strong trading volume on Friday . 2,878,915 shares were traded during mid-day trading, an increase of 921% from the previous session’s volume of 282,105 shares.The stock last traded at $10.26 and had previously closed at $9.91.

A number of equities research analysts have commented on the stock. B. Riley restated a “buy” rating on shares of Ashford Hospitality Prime in a report on Friday, November 3rd. ValuEngine upgraded shares of Ashford Hospitality Prime from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Robert W. Baird restated a “hold” rating and issued a $11.00 price target on shares of Ashford Hospitality Prime in a report on Friday, September 8th. Zacks Investment Research upgraded shares of Ashford Hospitality Prime from a “sell” rating to a “hold” rating in a report on Monday, August 28th. 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $13.17.

The firm has a market capitalization of $328.28, a price-to-earnings ratio of 6.12 and a beta of 1.14. The company has a debt-to-equity ratio of 2.57, a quick ratio of 3.77 and a current ratio of 3.77.

The firm 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 dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date is Thursday, December 28th. Ashford Hospitality Prime’s dividend payout ratio is currently -228.56%.

Ashford Hospitality Prime declared that its Board of Directors has initiated 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 repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

In other Ashford Hospitality Prime news, EVP Jeremy Welter acquired 20,000 shares of Ashford Hospitality Prime stock in a transaction dated Tuesday, November 7th. The stock was purchased at an average cost of $8.90 per share, for a total transaction of $178,000.00. Following the completion of the acquisition, the executive vice president now directly owns 551 shares of the company’s stock, valued at $4,903.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AHP. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ashford Hospitality Prime during the third quarter valued at about $109,000. Schroder Investment Management Group acquired a new position in shares of Ashford Hospitality Prime during the second quarter valued at about $115,000. Numeric Investors LLC purchased a new position in Ashford Hospitality Prime during the second quarter worth about $149,000. Voya Investment Management LLC boosted its holdings in 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 during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Ashford Hospitality Prime by 7.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 21,507 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 1,455 shares during the last quarter. Hedge funds and other institutional investors own 65.06% 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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