Redd Hugh Buys 1,000 Shares of Apple Hospitality REIT (NYSE:APLE) Stock

Apple Hospitality REIT, Inc. (NYSE:APLE) Director Redd Hugh bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $11.75 per share, with a total value of $11,750.00. Following the completion of the transaction, the director owned 138,254 shares in the company, valued at approximately $1,624,484.50. This trade represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Apple Hospitality REIT Stock Performance

NYSE:APLE traded down $0.17 during mid-day trading on Monday, reaching $11.57. 3,628,475 shares of the stock were exchanged, compared to its average volume of 2,872,340. The stock has a market capitalization of $2.74 billion, a P/E ratio of 15.43 and a beta of 1.04. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50. The company has a 50 day simple moving average of $11.87 and a 200-day simple moving average of $11.99. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $373.88 million during the quarter, compared to analysts’ expectations of $371.94 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. Analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be given a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Friday, October 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 131.51%.

Institutional Investors Weigh In On Apple Hospitality REIT

Institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in Apple Hospitality REIT during the first quarter worth $6,254,000. Public Sector Pension Investment Board grew its stake in shares of Apple Hospitality REIT by 48.8% during the 1st quarter. Public Sector Pension Investment Board now owns 826,924 shares of the real estate investment trust’s stock worth $10,676,000 after purchasing an additional 271,023 shares during the period. Strs Ohio acquired a new position in shares of Apple Hospitality REIT during the 1st quarter worth $4,395,000. Allianz Asset Management GmbH increased its holdings in shares of Apple Hospitality REIT by 59.3% in the 1st quarter. Allianz Asset Management GmbH now owns 1,452,584 shares of the real estate investment trust’s stock valued at $18,753,000 after purchasing an additional 540,957 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in shares of Apple Hospitality REIT in the first quarter valued at about $1,507,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on APLE. Bank of America cut shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 target price for the company. in a report on Tuesday, November 4th. Cantor Fitzgerald assumed coverage on Apple Hospitality REIT in a research note on Wednesday, October 1st. They set an “overweight” rating and a $14.00 price objective for the company. Wells Fargo & Company raised Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Apple Hospitality REIT in a report on Thursday, October 30th. Finally, Robert W. Baird cut their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus price target of $12.70.

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.