Apple Hospitality REIT (NYSE:APLE) Chairman Glade Knight Acquires 5,000 Shares

Apple Hospitality REIT, Inc. (NYSE:APLE) Chairman Glade Knight acquired 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the acquisition, the chairman directly owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. This represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Apple Hospitality REIT Price Performance

Shares of Apple Hospitality REIT stock traded down $0.02 on Wednesday, hitting $13.81. The company had a trading volume of 2,100,521 shares, compared to its average volume of 3,043,637. The business has a 50-day simple moving average of $12.45 and a 200-day simple moving average of $12.14. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $3.26 billion, a PE ratio of 18.91, a PEG ratio of 8.24 and a beta of 0.88. Apple Hospitality REIT, Inc. has a 52 week low of $10.85 and a 52 week high of $14.19.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. Research analysts expect that Apple Hospitality REIT, Inc. will post 1.55 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be issued a $0.08 dividend. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 7.0%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 131.51%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on APLE. Barclays decreased their price objective on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Wednesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. Cantor Fitzgerald increased their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, LADENBURG THALM/SH SH began coverage on shares of Apple Hospitality REIT in a report on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.93.

Institutional Trading of Apple Hospitality REIT

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in Apple Hospitality REIT by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,254,332 shares of the real estate investment trust’s stock worth $37,458,000 after buying an additional 56,555 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Apple Hospitality REIT by 11.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 47,210 shares of the real estate investment trust’s stock worth $545,000 after buying an additional 4,747 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Apple Hospitality REIT by 2.0% during the first quarter. Principal Financial Group Inc. now owns 1,069,472 shares of the real estate investment trust’s stock worth $12,310,000 after buying an additional 20,691 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Apple Hospitality REIT by 22.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 155,198 shares of the real estate investment trust’s stock worth $1,786,000 after buying an additional 28,010 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Apple Hospitality REIT by 21.2% during the first quarter. Fifth Third Bancorp now owns 10,359 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 1,815 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

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.