Apple Hospitality REIT (NYSE:APLE – Free Report) had its price target boosted by Bank of America from $15.00 to $16.00 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.
Other analysts have also recently issued research reports about the stock. LADENBURG THALM/SH SH boosted their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. BMO Capital Markets raised their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, June 12th. Cantor Fitzgerald boosted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company upped their target price on Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.75.
Check Out Our Latest Report on Apple Hospitality REIT
Apple Hospitality REIT Stock Performance
Apple Hospitality REIT (NYSE:APLE – Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. As a group, equities analysts anticipate that Apple Hospitality REIT will post 1.59 EPS for the current fiscal year.
Apple Hospitality REIT Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 5.7%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 131.51%.
Insider Activity at Apple Hospitality REIT
In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the acquisition, the chairman owned 747,191 shares in the company, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.90% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC grew its position in shares of Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,814 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,640 shares during the last quarter. Danske Bank A S acquired a new position in shares of Apple Hospitality REIT in the third quarter worth approximately $36,000. Godfrey Financial Associates Inc. acquired a new position in shares of Apple Hospitality REIT in the fourth quarter worth approximately $43,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Apple Hospitality REIT by 97.5% in the second quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,872 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.
Apple Hospitality REIT Company Profile
Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.
The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.
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