Ashford Hospitality Prime, Inc. (NYSE:AHP) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Wednesday.

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. “

AHP has been the subject of a number of other research reports. Deutsche Bank AG raised shares of Ashford Hospitality Prime from a “hold” rating to a “buy” rating and lowered their price target for the company from $14.00 to $13.00 in a report on Friday, June 9th. Canaccord Genuity reaffirmed a “hold” rating and issued a $11.00 price target on shares of Ashford Hospitality Prime in a report on Monday, June 26th. ValuEngine downgraded shares of Ashford Hospitality Prime from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Finally, BidaskClub downgraded shares of Ashford Hospitality Prime from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $13.60.

Shares of Ashford Hospitality Prime (NYSE AHP) traded down 3.10% on Wednesday, reaching $9.70. The company’s stock had a trading volume of 273,178 shares. The company’s 50 day moving average price is $10.36 and its 200 day moving average price is $11.08. Ashford Hospitality Prime has a 12-month low of $9.28 and a 12-month high of $16.16. The company has a market cap of $309.93 million, a P/E ratio of 25.26 and a beta of 1.16.

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A number of hedge funds have recently made changes to their positions in AHP. JPMorgan Chase & Co. increased its stake in shares of Ashford Hospitality Prime by 83.3% in the second quarter. JPMorgan Chase & Co. now owns 615,539 shares of the real estate investment trust’s stock valued at $6,333,000 after buying an additional 279,810 shares during the last quarter. Swiss National Bank increased its stake in shares of 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 valued at $806,000 after buying an additional 36,400 shares during the last quarter. IndexIQ Advisors LLC increased its stake in shares of Ashford Hospitality Prime by 11.8% in the second quarter. IndexIQ Advisors LLC now owns 36,665 shares of the real estate investment trust’s stock valued at $377,000 after buying an additional 3,878 shares during the last quarter. OMERS ADMINISTRATION Corp increased its stake in shares of Ashford Hospitality Prime by 62.1% in the second quarter. OMERS ADMINISTRATION Corp now owns 63,383 shares of the real estate investment trust’s stock valued at $652,000 after buying an additional 24,283 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Ashford Hospitality Prime by 25.1% in the second quarter. Prudential Financial Inc. now owns 757,786 shares of the real estate investment trust’s stock valued at $7,797,000 after buying an additional 152,070 shares during the last quarter. 68.17% of the stock is owned by institutional investors and hedge funds.

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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