CIBC set a C$3.00 price objective on American Hotel Income Properties REIT (TSE:HOT.UN) in a research note issued to investors on Monday, BayStreet.CA reports.
Several other research analysts also recently weighed in on HOT.UN. Royal Bank of Canada reduced their target price on American Hotel Income Properties REIT from C$7.31 to C$6.65 and set a sector perform rating for the company in a research note on Monday, December 2nd. TD Securities cut American Hotel Income Properties REIT from a buy rating to a hold rating and dropped their target price for the company from C$6.00 to C$3.00 in a report on Friday, March 13th. Finally, National Bank Financial restated a sector perform rating and issued a C$4.00 target price on shares of American Hotel Income Properties REIT in a report on Thursday, March 12th.
Shares of HOT.UN stock opened at C$2.24 on Monday. The stock’s 50-day simple moving average is C$5.23 and its 200-day simple moving average is C$6.44. The firm has a market capitalization of $175.01 million and a price-to-earnings ratio of -25.17. American Hotel Income Properties REIT has a fifty-two week low of C$2.59 and a fifty-two week high of C$7.49. The company has a debt-to-equity ratio of 183.24, a quick ratio of 0.57 and a current ratio of 1.12.
In related news, Director William Michael Murphy purchased 5,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of C$7.13 per share, with a total value of C$35,637.36. Following the completion of the acquisition, the director now directly owns 42,500 shares in the company, valued at approximately C$302,917.56.
About American Hotel Income Properties REIT
American Hotel Income Properties REIT LP (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.U), or AHIP, is a limited partnership formed to invest in hotel real estate properties located substantially in the United States. AHIP currently has 112 hotels, and is engaged in growing its portfolio of premium branded, select-service hotels in larger secondary markets that have diverse and stable demand.
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