Apple Hospitality REIT Inc (NYSE:APLE) Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $16.26 per share, with a total value of $81,300.00. Following the completion of the transaction, the chairman now directly owns 10,138,812 shares of the company’s stock, valued at approximately $164,857,083.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of APLE traded down $0.04 during midday trading on Friday, hitting $16.37. 957,334 shares of the stock were exchanged, compared to its average volume of 1,180,834. Apple Hospitality REIT Inc has a 52-week low of $13.81 and a 52-week high of $16.90. The stock has a fifty day simple moving average of $16.34 and a 200 day simple moving average of $16.01. The firm has a market cap of $3.73 billion, a P/E ratio of 9.52, a P/E/G ratio of 2.01 and a beta of 0.80. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.04 and a current ratio of 0.38.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.21 EPS for the quarter, missing the 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 firm had revenue of $331.72 million for the quarter, compared to analysts’ expectations of $328.85 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities research analysts forecast that Apple Hospitality REIT Inc will post 1.65 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Monday, November 18th. Stockholders of record on Monday, November 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.20 annualized dividend and a dividend yield of 7.33%. Apple Hospitality REIT’s dividend payout ratio is currently 69.77%.
Several research analysts have recently commented on the company. Barclays upgraded Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a research report on Monday, August 12th. Wells Fargo & Co raised their price target on Apple Hospitality REIT from $15.00 to $15.50 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $17.13.
Several institutional investors and hedge funds have recently added to or reduced their stakes in APLE. Point72 Hong Kong Ltd boosted its position 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 buying an additional 1,448 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Apple Hospitality REIT by 113.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,386 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,267 shares in the last quarter. AGF Investments LLC raised its stake in shares of Apple Hospitality REIT by 72.9% in the second quarter. AGF Investments LLC now owns 2,471 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 1,042 shares in the last quarter. Tower Research Capital LLC TRC raised its stake 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 acquiring an additional 968 shares in the last quarter. Finally, Enterprise Financial Services Corp raised its stake in shares of Apple Hospitality REIT by 180.5% in the third quarter. Enterprise Financial Services Corp now owns 4,011 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 2,581 shares in the last quarter. Institutional investors and hedge funds own 59.19% of the company’s stock.
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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