ValuEngine downgraded shares of Ashford Hospitality Prime (NYSE:AHP) from a buy rating to a hold rating in a research note issued to investors on Friday.

Other research analysts have also issued reports about 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 research note on Tuesday, January 2nd. 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, four have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $12.20.

Ashford Hospitality Prime (NYSE:AHP) opened at $8.99 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 company has a market capitalization of $288.77, a price-to-earnings ratio of -35.96 and a beta of 1.00. Ashford Hospitality Prime has a 12 month low of $8.74 and a 12 month high of $13.83.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date was Thursday, December 28th. Ashford Hospitality Prime’s dividend payout ratio (DPR) is -256.00%.

In related news, EVP Jeremy Welter purchased 20,000 shares of the stock in a transaction on Tuesday, November 7th. The shares were purchased at an average cost of $8.90 per share, for a total transaction of $178,000.00. Following the completion of the transaction, the executive vice president now directly owns 551 shares of the company’s stock, valued at approximately $4,903.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in Ashford Hospitality Prime by 52.0% in the second quarter. Goldman Sachs Group Inc. now owns 153,765 shares of the real estate investment trust’s stock valued at $1,582,000 after acquiring an additional 52,586 shares during the period. Dimensional Fund Advisors LP grew its position in Ashford Hospitality Prime by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 436,740 shares of the real estate investment trust’s stock valued at $4,494,000 after acquiring an additional 24,687 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Ashford Hospitality Prime in the third quarter valued at $109,000. Schwab Charles Investment Management Inc. grew its position 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 valued at $7,210,000 after acquiring an additional 251,717 shares during the period. Finally, Parametric Portfolio Associates LLC grew its position in Ashford Hospitality Prime by 155.2% in the second quarter. Parametric Portfolio Associates LLC now owns 72,341 shares of the real estate investment trust’s stock valued at $744,000 after acquiring an additional 43,992 shares during the period. Hedge funds and other institutional investors own 64.34% 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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Analyst Recommendations for Ashford Hospitality Prime (NYSE:AHP)

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