Raging Capital Management LLC decreased its stake in shares of Ashford Hospitality Prime, Inc. (NYSE:AHP) by 85.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 346,238 shares of the real estate investment trust’s stock after selling 2,113,841 shares during the period. Raging Capital Management LLC owned about 1.27% of Ashford Hospitality Prime worth $3,674,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in AHP. Two Sigma Investments LP purchased a new stake in shares of Ashford Hospitality Prime during the fourth quarter valued at about $1,291,000. State Street Corp raised its stake in shares of Ashford Hospitality Prime by 1.2% in the fourth quarter. State Street Corp now owns 796,749 shares of the real estate investment trust’s stock valued at $10,873,000 after buying an additional 9,199 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Ashford Hospitality Prime during the first quarter valued at about $6,188,000. LMR Partners LLP purchased a new stake in shares of Ashford Hospitality Prime during the first quarter valued at about $592,000. Finally, Macquarie Group Ltd. raised its stake in shares of Ashford Hospitality Prime by 69.2% in the fourth quarter. Macquarie Group Ltd. now owns 28,363 shares of the real estate investment trust’s stock valued at $387,000 after buying an additional 11,600 shares in the last quarter. Institutional investors and hedge funds own 68.02% of the company’s stock.
Shares of Ashford Hospitality Prime, Inc. (NYSE:AHP) traded up 0.62% during midday trading on Friday, hitting $9.80. The stock had a trading volume of 837,455 shares. Ashford Hospitality Prime, Inc. has a one year low of $9.28 and a one year high of $17.64. The company has a market capitalization of $267.22 million, a PE ratio of 18.56 and a beta of 1.17. The firm’s 50-day moving average is $10.10 and its 200 day moving average is $11.92.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.53%. Ashford Hospitality Prime’s payout ratio is presently 130.61%.
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Several equities research analysts have recently issued reports on AHP shares. FBR & Co reduced their price target on Ashford Hospitality Prime to $16.00 in a report on Monday, February 27th. JMP Securities reiterated a “market perform” rating on shares of Ashford Hospitality Prime in a report on Friday, April 7th. Zacks Investment Research lowered Ashford Hospitality Prime from a “buy” rating to a “strong sell” rating in a report on Tuesday, March 14th. Deutsche Bank AG upgraded Ashford Hospitality Prime from a “hold” rating to a “buy” rating and reduced their price target for the company from $14.00 to $13.00 in a report on Friday, June 9th. Finally, ValuEngine lowered Ashford Hospitality Prime from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $15.00.
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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