Insider Buying: Apple Hospitality REIT, Inc. (NYSE:APLE) Director Purchases 1,000 Shares of Stock

Apple Hospitality REIT, Inc. (NYSE:APLE) Director Redd Hugh acquired 1,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $11.37 per share, for a total transaction of $11,370.00. Following the completion of the transaction, the director now owns 136,254 shares of the company’s stock, valued at $1,549,207.98. This trade represents a 0.74 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Apple Hospitality REIT Stock Performance

Shares of NYSE:APLE opened at $11.76 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The business’s fifty day moving average price is $12.41 and its two-hundred day moving average price is $14.36. Apple Hospitality REIT, Inc. has a fifty-two week low of $10.44 and a fifty-two week high of $16.50. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 13.84 and a beta of 1.07.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $327.70 million during the quarter, compared to analysts’ expectations of $332.86 million. As a group, analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.16%. The ex-dividend date is Wednesday, April 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 121.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their target price for the company from $16.00 to $17.00 in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new position in Apple Hospitality REIT in the 4th quarter valued at $31,000. Versant Capital Management Inc increased its stake in shares of Apple Hospitality REIT by 569.5% in the first quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 2,386 shares in the last quarter. Quarry LP raised its holdings in shares of Apple Hospitality REIT by 128.1% in the fourth quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,751 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in Apple Hospitality REIT during the 4th quarter worth about $51,000. Finally, GF Fund Management CO. LTD. bought a new stake in Apple Hospitality REIT during the 4th quarter worth about $64,000. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Company Profile

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.