Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 8:47 AM
|This Slide: #302 of 581|
Slide #302. Ashford Hospitality Prime, Inc. — Preferred Stock Offering
Ashford Hospitality Prime, Inc. (AHP)
Preferred Stock Offering Details:
Ashford Hospitality Prime, Inc. (NYSE: AHP) ("Ashford Prime" or the "Company") announced today that it has commenced an underwritten public offering of 290,850 shares of Series B Cumulative Convertible Preferred Stock (the "Preferred Stock"). Dividends on the Preferred Stock will accrue at a rate of 5.50% on the liquidation preference of $25.00 per share. The offering is subject to market and other conditions.
Braemar Hotels & Resorts is an externally-advised real estate investment trust. Co. operates in the direct hotel investment segment of the hotel lodging industry. As of Feb. 24, 2017, Co. owned interests in 11 hotels in six states, the District of Columbia and St. Thomas, U.S. Virgin Islands comprising 3,702 total rooms, or 3,467 net rooms, excluding those attributable to Co.'s joint venture partner. The hotels in Co.'s portfolio are predominantly located in U.S. gateway and resort locations with favorable growth characteristics resulting from multiple demand generators.
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Strong Buy (3.50 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com