Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.88 and last traded at $16.6150, with a volume of 2402822 shares. The stock had previously closed at $16.59.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on APLE shares. BMO Capital Markets upped 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. JPMorgan Chase & Co. started coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They issued a “neutral” rating and a $15.00 target price on the stock. Barclays increased their price target on Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Cantor Fitzgerald raised 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, LADENBURG THALM/SH SH boosted their price objective on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus target price of $14.94.
Read Our Latest Stock Report on Apple Hospitality REIT
Apple Hospitality REIT Price Performance
Apple Hospitality REIT (NYSE:APLE – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The company had revenue of $337.74 million for the quarter, compared to analysts’ expectations of $327.81 million. As a group, research analysts predict that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current year.
Apple Hospitality REIT Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) annualized dividend and a yield of 5.8%. Apple Hospitality REIT’s dividend payout ratio is presently 131.51%.
Insider Buying and Selling
In other news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the acquisition, the chairman directly owned 747,191 shares of the company’s stock, valued at $10,430,786.36. The trade was a 0.67% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 6.90% of the stock is owned by company insiders.
Institutional Trading of Apple Hospitality REIT
Several hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in shares of Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Apple Hospitality REIT by 1,375.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,640 shares in the last quarter. Danske Bank A S acquired a new stake in Apple Hospitality REIT during the 3rd quarter worth approximately $36,000. Godfrey Financial Associates Inc. purchased a new position in Apple Hospitality REIT in the 4th quarter valued at approximately $43,000. Finally, Inspire Investing LLC grew its stake in shares of Apple Hospitality REIT by 2,965.1% in the first quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 3,736 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.
About Apple Hospitality REIT
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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