Justin G. Knight Acquires 17,000 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) Stock

Apple Hospitality REIT, Inc. (NYSE:APLE) insider Justin G. Knight acquired 17,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $17.62 per share, with a total value of $299,540.00. Following the purchase, the insider now directly owns 1,005,274 shares of the company’s stock, valued at $17,712,927.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) opened at 17.88 on Friday. The company has a 50 day moving average of $18.45 and a 200 day moving average of $19.05. The firm has a market cap of $3.99 billion, a PE ratio of 21.70 and a beta of 0.60. Apple Hospitality REIT, Inc. has a 52 week low of $17.32 and a 52 week high of $20.68.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by $0.01. Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The company had revenue of $331.70 million for the quarter, compared to analyst estimates of $335.94 million. During the same quarter last year, the business earned $0.52 EPS. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, equities research analysts anticipate that Apple Hospitality REIT, Inc. will post $0.98 EPS for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Thursday, August 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $1.20 annualized dividend and a yield of 6.71%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 150.00%.

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Institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Apple Hospitality REIT by 0.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 23,820 shares of the real estate investment trust’s stock valued at $455,000 after buying an additional 197 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of Apple Hospitality REIT by 1.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,277 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 220 shares during the period. Stevens Capital Management LP increased its position in shares of Apple Hospitality REIT by 0.4% in the first quarter. Stevens Capital Management LP now owns 53,875 shares of the real estate investment trust’s stock valued at $1,029,000 after buying an additional 235 shares during the period. National Asset Management Inc. increased its position in shares of Apple Hospitality REIT by 1.0% in the first quarter. National Asset Management Inc. now owns 35,627 shares of the real estate investment trust’s stock valued at $682,000 after buying an additional 348 shares during the period. Finally, Bruderman Asset Management LLC increased its position in shares of Apple Hospitality REIT by 3.7% in the first quarter. Bruderman Asset Management LLC now owns 10,361 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 372 shares during the period. Institutional investors own 47.64% of the company’s stock.

Several brokerages recently commented on APLE. BidaskClub upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. FBR & Co reiterated a “hold” rating on shares of Apple Hospitality REIT in a research note on Saturday, May 6th. Robert W. Baird reiterated an “outperform” rating and issued a $21.00 price objective on shares of Apple Hospitality REIT in a research note on Tuesday, July 4th. Wells Fargo & Company began coverage on shares of Apple Hospitality REIT in a research note on Wednesday, May 3rd. They issued a “market perform” rating for the company. Finally, Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Apple Hospitality REIT currently has a consensus rating of “Hold” and an average target price of $19.20.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 31, 2016, the Company owned 235 hotels with an aggregate of 30,073 rooms located in urban, suburban and developing markets throughout 33 states.

Insider Buying and Selling by Quarter for Apple Hospitality REIT (NYSE:APLE)

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