Shares of Apple Hospitality REIT Inc (NYSE:APLE) have earned an average rating of “Hold” from the eight analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.00.
Several research analysts have recently weighed in on the company. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. B. Riley raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Wednesday, August 8th. Finally, ValuEngine lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd.
Shares of APLE stock traded down $0.14 during mid-day trading on Wednesday, hitting $17.22. The company’s stock had a trading volume of 954,600 shares, compared to its average volume of 1,298,675. Apple Hospitality REIT has a 52 week low of $16.72 and a 52 week high of $20.19. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.99 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 2.00 and a beta of 0.64.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, August 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.22). Apple Hospitality REIT had a return on equity of 4.80% and a net margin of 13.55%. The business had revenue of $344.70 million during the quarter, compared to the consensus estimate of $347.27 million. During the same period last year, the business posted $0.51 earnings per share. The business’s revenue was up 10.6% on a year-over-year basis. analysts forecast that Apple Hospitality REIT will post 1.73 earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Monday, October 15th. Investors of record on Wednesday, October 3rd will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.97%. The ex-dividend date is Tuesday, October 2nd. Apple Hospitality REIT’s payout ratio is 68.97%.
In other news, insider Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The stock was acquired at an average cost of $17.33 per share, with a total value of $86,650.00. Following the transaction, the insider now directly owns 10,098,533 shares of the company’s stock, valued at approximately $175,007,576.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Justin G. Knight bought 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average cost of $17.65 per share, with a total value of $105,900.00. Following the completion of the transaction, the insider now directly owns 1,109,681 shares in the company, valued at $19,585,869.65. The disclosure for this purchase can be found here. Insiders purchased a total of 33,657 shares of company stock valued at $588,035 over the last ninety days. 6.30% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Bank of Australia increased its holdings in Apple Hospitality REIT by 70.2% during 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. NumerixS Investment Technologies Inc bought a new stake in Apple Hospitality REIT during the 2nd quarter worth approximately $169,000. Howe & Rusling Inc. bought a new stake in Apple Hospitality REIT during the 2nd quarter worth approximately $168,000. US Bancorp DE increased its holdings in Apple Hospitality REIT by 98.9% during the 2nd quarter. US Bancorp DE now owns 9,872 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 4,908 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in Apple Hospitality REIT during the 2nd quarter worth approximately $177,000. 56.54% of the stock is owned by hedge funds and other institutional investors.
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 30,700 guest rooms located in 88 markets throughout 34 states.
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