Shares of Apple Hospitality REIT Inc (NYSE:APLE) have received an average recommendation of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $17.67.
APLE has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. ValuEngine upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Janney Montgomery Scott started coverage on Apple Hospitality REIT in a research note on Monday, December 16th. They set a “buy” rating and a $18.00 price objective for the company.
In other news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average price of $16.26 per share, with a total value of $81,300.00. Following the purchase, the chairman now directly owns 10,138,812 shares of the company’s stock, valued at $164,857,083.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 7,000 shares of company stock worth $113,470 over the last quarter. 6.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of Apple Hospitality REIT by 2.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 28,146 shares of the real estate investment trust’s stock valued at $446,000 after buying an additional 738 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Apple Hospitality REIT by 1.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 64,947 shares of the real estate investment trust’s stock valued at $1,030,000 after purchasing an additional 813 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Apple Hospitality REIT by 40.6% in the third quarter. Tower Research Capital LLC TRC now owns 3,354 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 968 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Apple Hospitality REIT by 0.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 136,700 shares of the real estate investment trust’s stock valued at $2,168,000 after acquiring an additional 1,100 shares during the period. Finally, Point72 Hong Kong Ltd increased its stake in shares of Apple Hospitality REIT by 159.6% during the second quarter. Point72 Hong Kong Ltd now owns 2,355 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,448 shares during the period. 60.19% of the stock is owned by institutional investors.
Shares of NYSE APLE traded up $0.02 during mid-day trading on Friday, hitting $15.97. The company’s stock had a trading volume of 1,160,085 shares, compared to its average volume of 1,431,720. Apple Hospitality REIT has a one year low of $14.65 and a one year high of $16.90. The company’s fifty day simple moving average is $15.97 and its 200-day simple moving average is $15.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 19.72 and a beta of 0.78.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.24). Apple Hospitality REIT had a return on equity of 5.37% and a net margin of 14.20%. The business had revenue of $331.72 million for the quarter, compared to the consensus estimate of $328.85 million. During the same period last year, the firm earned $0.47 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts predict that Apple Hospitality REIT will post 1.65 EPS for the current year.
The business also recently declared a monthly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd were paid a $0.10 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.51%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 69.77%.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.
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