Wall Street brokerages predict that Ashford Hospitality Prime (NYSE:AHP) will announce $105.87 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Ashford Hospitality Prime’s earnings, with the lowest sales estimate coming in at $96.09 million and the highest estimate coming in at $109.69 million. Ashford Hospitality Prime reported sales of $97.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.8%. The firm is expected to report its next earnings results after the market closes on Wednesday, May 2nd.
According to Zacks, analysts expect that Ashford Hospitality Prime will report full-year sales of $446.28 million for the current fiscal year, with estimates ranging from $420.93 million to $456.54 million. For the next year, analysts forecast that the firm will report sales of $466.93 million per share, with estimates ranging from $450.54 million to $479.80 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Ashford Hospitality Prime.
Ashford Hospitality Prime (NYSE:AHP) last released its quarterly earnings results on Wednesday, February 28th. The real estate investment trust reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.35. The firm had revenue of $92.56 million for the quarter, compared to analysts’ expectations of $100.48 million. Ashford Hospitality Prime had a net margin of 5.56% and a return on equity of 6.28%.
Several research analysts have recently weighed in on AHP shares. Zacks Investment Research cut shares of Ashford Hospitality Prime from a “hold” rating to a “sell” rating in a report on Friday, March 9th. B. Riley set a $13.00 price target on shares of Ashford Hospitality Prime and gave the stock a “buy” rating in a report on Thursday, March 1st. Finally, ValuEngine cut shares of Ashford Hospitality Prime from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $11.80.
Ashford Hospitality Prime stock opened at $10.61 on Wednesday. The firm has a market capitalization of $336.94, a PE ratio of 6.55 and a beta of 0.82. Ashford Hospitality Prime has a fifty-two week low of $8.44 and a fifty-two week high of $11.34. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 2.20.
The company also recently announced a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Friday, March 30th were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $0.64 dividend on an annualized basis and a yield of 6.03%. Ashford Hospitality Prime’s dividend payout ratio is presently 39.51%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AHP. Wells Fargo & Company MN increased its stake in Ashford Hospitality Prime by 40.6% in the third quarter. Wells Fargo & Company MN now owns 40,771 shares of the real estate investment trust’s stock valued at $386,000 after acquiring an additional 11,782 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Ashford Hospitality Prime by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 447,158 shares of the real estate investment trust’s stock valued at $4,248,000 after acquiring an additional 10,418 shares during the last quarter. California Public Employees Retirement System increased its stake in Ashford Hospitality Prime by 24.1% in the third quarter. California Public Employees Retirement System now owns 109,696 shares of the real estate investment trust’s stock valued at $1,042,000 after acquiring an additional 21,296 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Ashford Hospitality Prime by 90.3% in the third quarter. Public Employees Retirement System of Ohio now owns 67,219 shares of the real estate investment trust’s stock valued at $639,000 after acquiring an additional 31,899 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Ashford Hospitality Prime by 10.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 421,463 shares of the real estate investment trust’s stock valued at $4,101,000 after acquiring an additional 40,227 shares during the last quarter. 68.67% of the stock is currently owned by institutional investors and hedge funds.
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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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