Apple Hospitality REIT, Inc. (NYSE:APLE) declared a quarterly dividend on Thursday, September 16th, Wall Street Journal reports. Shareholders of record on Thursday, September 30th will be given a dividend of 0.01 per share by the real estate investment trust on Monday, October 18th. This represents a $0.04 annualized dividend and a yield of 0.26%. The ex-dividend date is Wednesday, September 29th.
Apple Hospitality REIT has decreased its dividend by 72.7% over the last three years.
APLE stock traded up $0.07 during midday trading on Thursday, hitting $15.35. 1,589,614 shares of the company’s stock were exchanged, compared to its average volume of 1,974,574. The stock’s fifty day moving average price is $14.80 and its 200-day moving average price is $15.14. Apple Hospitality REIT has a one year low of $8.90 and a one year high of $16.57. The company has a market cap of $3.51 billion, a PE ratio of -28.83 and a beta of 1.32. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.72 and a current ratio of 0.72.
In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Tuesday, August 10th. The stock was acquired at an average price of $14.44 per share, for a total transaction of $72,200.00. Following the completion of the acquisition, the chairman now owns 414,989 shares of the company’s stock, valued at approximately $5,992,441.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 5,636 shares of company stock valued at $81,478 in the last quarter. 7.00% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in Apple Hospitality REIT stock. Morgan Stanley lifted its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 13.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 463,887 shares of the real estate investment trust’s stock after buying an additional 56,676 shares during the period. Morgan Stanley owned approximately 0.20% of Apple Hospitality REIT worth $7,079,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 77.97% of the company’s stock.
Several research firms have issued reports on APLE. Barclays raised Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $17.00 to $19.00 in a research note on Wednesday, September 1st. B. Riley lifted their price target on Apple Hospitality REIT from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, June 15th. Finally, Zacks Investment Research raised Apple Hospitality REIT from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Monday, June 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Buy” and an average price target of $15.80.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. It owns hotels located in urban, high-end suburban, and developing markets throughout states, which operates under Marriott, Hilton, or Hyatt brands.
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