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Stock Market & Financial Investment News

News Breaks
March 3, 2014
08:11 EDTAHP, AHTAshford Hospitality Prime completes acquisition of Pier House Resort and Spa
Ashford Hospitality Prime (AHP) announced it has completed the acquisition of the 142-room Pier House Resort and Spa from Ashford Hospitality (AHT) for a total consideration of $92.M. In connection with the transaction, the company has assumed the existing $69Mproperty level debt financing that Ashford Trust closed in September 2013. The balance of the purchase price was funded with proceeds from the company's January equity offering.
News For AHP;AHT From The Last 14 Days
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March 2, 2015
10:00 EDTAHTOn The Fly: Analyst Downgrade Summary
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06:15 EDTAHTAshford Hospitality downgraded to Neutral from Outperform at Credit Suisse
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February 26, 2015
17:12 EDTAHPAshford Hospitality Prime reports Q4 FFO 21c, may not compare to consensus (12c)
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16:26 EDTAHTAshford Hospitality reports Q4 adjusted FFO 17c, consensus 13c
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08:20 EDTAHTAshford Hospitality completes acquisition of Marriott Memphis East for $43.5M
Ashford Hospitality (AHT) has completed the previously-announced acquisition of the 232-room Marriott (MAR) Memphis East hotel for total consideration of $43.5M in cash, or $187,500 per key. The company intends to finance the property with approximately $33.3M of non-recourse mortgage debt. On a forward 12-month basis, the purchase price represents an estimated cap rate of 8.6% on net operating income and an estimated 10.3x forward EBITDA multiple. The Marriott Memphis East is in excellent physical condition with virtually no capex needs as the hotel recently completed an extensive renovation.

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