Shares of Apple Hospitality REIT Inc (NYSE:APLE) have been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $20.00.
A number of equities research analysts recently commented on APLE shares. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. B. Riley set a $20.00 price target on shares of Apple Hospitality REIT and gave the company a “buy” rating in a report on Tuesday, November 6th.
In related news, insider Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was acquired at an average cost of $16.22 per share, for a total transaction of $81,100.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Redd Hugh acquired 3,000 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was bought at an average price of $16.18 per share, with a total value of $48,540.00. Following the completion of the acquisition, the director now directly owns 86,154 shares in the company, valued at approximately $1,393,971.72. The disclosure for this purchase can be found here. Insiders have purchased a total of 19,624 shares of company stock valued at $313,283 over the last quarter. 6.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its holdings in Apple Hospitality REIT by 6.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 49,841 shares of the real estate investment trust’s stock worth $891,000 after purchasing an additional 2,973 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Apple Hospitality REIT by 2.5% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 133,100 shares of the real estate investment trust’s stock worth $2,380,000 after purchasing an additional 3,300 shares in the last quarter. HGK Asset Management Inc. raised its holdings in Apple Hospitality REIT by 15.3% in the 2nd quarter. HGK Asset Management Inc. now owns 27,181 shares of the real estate investment trust’s stock worth $486,000 after purchasing an additional 3,598 shares in the last quarter. Teachers Insurance & Annuity Association of America raised its holdings in Apple Hospitality REIT by 1.4% in the 2nd quarter. Teachers Insurance & Annuity Association of America now owns 279,063 shares of the real estate investment trust’s stock worth $4,990,000 after purchasing an additional 3,728 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its holdings in Apple Hospitality REIT by 70.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 9,193 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 3,793 shares in the last quarter. Institutional investors and hedge funds own 56.22% of the company’s stock.
Shares of APLE traded down $0.24 during mid-day trading on Monday, reaching $15.64. The company’s stock had a trading volume of 2,109,289 shares, compared to its average volume of 1,553,764. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.87 and a beta of 0.68. Apple Hospitality REIT has a 52 week low of $15.47 and a 52 week high of $20.19.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.21). Apple Hospitality REIT had a net margin of 13.42% and a return on equity of 4.77%. The firm had revenue of $332.20 million for the quarter, compared to the consensus estimate of $340.17 million. During the same quarter in the prior year, the company earned $0.48 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts forecast that Apple Hospitality REIT will post 1.7 EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, November 30th. This represents a $1.20 dividend on an annualized basis and a yield of 7.67%. Apple Hospitality REIT’s dividend payout ratio is currently 68.97%.
Apple Hospitality REIT Company Profile
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 30,700 guest rooms located in 88 markets throughout 34 states.
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