Zacks: Brokerages Anticipate Ashford Hospitality Prime Inc (AHP) Will Announce Quarterly Sales of $105.15 Million

Analysts predict that Ashford Hospitality Prime Inc (NYSE:AHP) will report $105.15 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Ashford Hospitality Prime’s earnings, with the highest sales estimate coming in at $109.69 million and the lowest estimate coming in at $96.09 million. Ashford Hospitality Prime posted sales of $97.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.1%. The business is expected to issue its next quarterly earnings results on Wednesday, May 2nd.

According to Zacks, analysts expect that Ashford Hospitality Prime will report full year sales of $105.15 million for the current year, with estimates ranging from $420.93 million to $456.54 million. For the next fiscal year, analysts anticipate that the business will post sales of $466.93 million per share, with estimates ranging from $450.54 million to $479.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Ashford Hospitality Prime.

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Several research firms have recently weighed in on AHP. ValuEngine lowered Ashford Hospitality Prime from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research raised Ashford Hospitality Prime from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, B. Riley set a $13.00 price objective on Ashford Hospitality Prime and gave the stock a “buy” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $12.33.

AHP stock traded down $0.13 on Thursday, hitting $9.84. The stock had a trading volume of 696,873 shares, compared to its average volume of 275,317. The company has a market cap of $316.06, a price-to-earnings ratio of 24.60 and a beta of 0.99. The company has a current ratio of 4.22, a quick ratio of 3.77 and a debt-to-equity ratio of 2.20. Ashford Hospitality Prime has a 1-year low of $8.44 and a 1-year high of $11.34.

Ashford Hospitality Prime announced that its Board of Directors has approved a stock buyback program on Monday, December 11th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Several institutional investors have recently modified their holdings of AHP. State Street Corp boosted its holdings in Ashford Hospitality Prime by 17.0% during the second quarter. State Street Corp now owns 1,099,981 shares of the real estate investment trust’s stock valued at $11,320,000 after purchasing an additional 160,134 shares in the last quarter. Snow Park Capital Partners LP bought a new stake in shares of Ashford Hospitality Prime in the 4th quarter valued at about $973,000. Glacier Peak Capital LLC raised its holdings in shares of Ashford Hospitality Prime by 38.2% in the 4th quarter. Glacier Peak Capital LLC now owns 275,467 shares of the real estate investment trust’s stock valued at $2,680,000 after purchasing an additional 76,117 shares during the period. Lido Advisors LLC bought a new stake in shares of Ashford Hospitality Prime in the 3rd quarter valued at about $699,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Ashford Hospitality Prime by 26.0% in the 4th quarter. Bank of New York Mellon Corp now owns 280,845 shares of the real estate investment trust’s stock valued at $2,732,000 after purchasing an additional 57,964 shares during the period. 68.67% of the stock is owned by institutional investors and hedge funds.

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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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