Apple Hospitality REIT Sees Unusually Large Options Volume (NYSE:APLE)

Apple Hospitality REIT, Inc. (NYSE:APLE) was the target of some unusual options trading on Monday. Stock investors purchased 3,046 call options on the stock. This represents an increase of 1,454% compared to the typical volume of 196 call options.

Apple Hospitality REIT Stock Up 0.3%

NYSE APLE traded up $0.06 during trading on Monday, hitting $16.36. The stock had a trading volume of 461,951 shares, compared to its average volume of 2,896,428. Apple Hospitality REIT has a 12 month low of $10.85 and a 12 month high of $17.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73. The company’s 50-day moving average price is $16.03 and its two-hundred day moving average price is $15.19. The company has a market capitalization of $3.86 billion, a PE ratio of 22.12, a P/E/G ratio of 3.20 and a beta of 0.92.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. As a group, sell-side analysts forecast that Apple Hospitality REIT will post 1.60 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.96 annualized dividend and a yield of 5.9%. Apple Hospitality REIT’s payout ratio is 129.73%.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of large investors have recently modified their holdings of APLE. GAMMA Investing LLC grew its holdings in shares of Apple Hospitality REIT by 26.5% in the 3rd quarter. GAMMA Investing LLC now owns 14,613 shares of the real estate investment trust’s stock valued at $236,000 after acquiring an additional 3,061 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Apple Hospitality REIT by 35.3% during the third quarter. Farther Finance Advisors LLC now owns 6,949 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 1,813 shares in the last quarter. Congress Asset Management Co. boosted its position in Apple Hospitality REIT by 21.3% during the third quarter. Congress Asset Management Co. now owns 673,795 shares of the real estate investment trust’s stock valued at $10,889,000 after purchasing an additional 118,238 shares during the last quarter. QRG Capital Management Inc. boosted its position in Apple Hospitality REIT by 16.3% during the second quarter. QRG Capital Management Inc. now owns 174,378 shares of the real estate investment trust’s stock valued at $2,931,000 after purchasing an additional 24,382 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in Apple Hospitality REIT by 19.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,410 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 2,360 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on APLE. Barclays restated an “equal weight” rating and set a $17.00 target price (up from $16.00) on shares of Apple Hospitality REIT in a report on Tuesday, July 21st. Bank of America upped their price target on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, July 20th. JPMorgan Chase & Co. increased their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. LADENBURG THALM/SH SH raised their price objective on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $16.94.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a self-administered real estate investment trust focused on owning and operating upscale, select-service hotels. The company’s properties primarily operate under well-known lodging brands affiliated with Marriott International, Hilton Worldwide and Hyatt Hotels Corporation.

Apple Hospitality’s portfolio includes hotels serving business and leisure travelers in a range of urban, suburban and destination markets. Its properties are located across the United States, with a focus on geographically diverse markets and hotels that offer amenities such as guest rooms, meeting spaces, fitness facilities, swimming pools and limited food-and-beverage services.

The company was formed in 2007 and became publicly traded in 2015.