Dimensional Fund Advisors LP lifted its stake in shares of Ashford Hospitality Prime Inc (NYSE:AHP) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 447,158 shares of the real estate investment trust’s stock after purchasing an additional 10,418 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Ashford Hospitality Prime were worth $4,248,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in AHP. Dynamic Technology Lab Private Ltd bought a new stake in shares of Ashford Hospitality Prime during the 3rd quarter valued at $109,000. Numeric Investors LLC bought a new stake in shares of Ashford Hospitality Prime during the 2nd quarter valued at $149,000. Voya Investment Management LLC raised its stake in shares of Ashford Hospitality Prime by 16.3% during the 2nd quarter. Voya Investment Management LLC now owns 17,628 shares of the real estate investment trust’s stock valued at $181,000 after purchasing an additional 2,477 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Ashford Hospitality Prime by 17.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,233 shares of the real estate investment trust’s stock valued at $249,000 after purchasing an additional 3,590 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Ashford Hospitality Prime by 19.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 28,672 shares of the real estate investment trust’s stock valued at $295,000 after purchasing an additional 4,672 shares during the period. Institutional investors own 64.45% of the company’s stock.
In other Ashford Hospitality Prime news, EVP Jeremy Welter bought 20,000 shares of Ashford Hospitality Prime stock in a transaction that occurred on Tuesday, November 7th. The stock was acquired 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 in the company, valued at $4,903.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.00% of the stock is owned by insiders.
Ashford Hospitality Prime declared that its board has approved a stock buyback program on Monday, December 11th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 7.12%. The ex-dividend date of this dividend was Thursday, December 28th. Ashford Hospitality Prime’s payout ratio is -228.56%.
A number of analysts recently issued reports on AHP shares. B. Riley reiterated a “buy” rating on shares of Ashford Hospitality Prime in a research note on Friday, November 3rd. ValuEngine upgraded Ashford Hospitality Prime from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research upgraded Ashford Hospitality Prime from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $12.20.
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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