Key Points
- Howard Woolley, a director, bought 2,000 Apple Hospitality REIT shares on November 11 at $11.94 each ($23,880), bringing his holdings to 30,930 shares (a 6.91% increase) per an SEC filing.
- The company declared a monthly dividend of $0.08 per share (annualized yield ~8.2%), but the payout ratio is high at 131.51%, signaling potential sustainability concerns.
- Apple Hospitality beat quarterly expectations with $0.42 EPS vs. $0.40 and $373.88M revenue vs. $371.94M, while analysts hold a consensus "Hold" rating and an average price target of $12.70.
Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) Director Howard Woolley purchased 2,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Tuesday, November 11th. The stock was purchased at an average price of $11.94 per share, with a total value of $23,880.00. Following the transaction, the director owned 30,930 shares in the company, valued at $369,304.20. This represents a 6.91% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Apple Hospitality REIT Trading Up 0.3%
NYSE APLE traded up $0.03 on Friday, hitting $11.68. 1,012,567 shares of the stock were exchanged, compared to its average volume of 2,860,033. The company's 50-day moving average price is $11.90 and its two-hundred day moving average price is $11.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78. Apple Hospitality REIT, Inc. has a 52-week low of $10.44 and a 52-week high of $16.50. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 15.55 and a beta of 1.04.
Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%.The business had revenue of $373.88 million during the quarter, compared to analysts' expectations of $371.94 million. Research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.
Apple Hospitality REIT Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend is Friday, October 31st. Apple Hospitality REIT's payout ratio is 131.51%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on APLE shares. Weiss Ratings reissued a "hold (c-)" rating on shares of Apple Hospitality REIT in a research report on Thursday, October 30th. Bank of America lowered Apple Hospitality REIT from a "buy" rating to a "neutral" rating and set a $11.50 price objective on the stock. in a report on Tuesday, November 4th. Wells Fargo & Company upgraded Apple Hospitality REIT to a "hold" rating in a report on Friday, October 3rd. Cantor Fitzgerald assumed coverage on shares of Apple Hospitality REIT in a research report on Wednesday, October 1st. They issued an "overweight" rating and a $14.00 price target on the stock. Finally, Robert W. Baird lowered their target price on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $12.70.
Check Out Our Latest Stock Analysis on APLE
Institutional Investors Weigh In On Apple Hospitality REIT
Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in Apple Hospitality REIT by 9.4% in the 1st quarter. Victory Capital Management Inc. now owns 7,401,428 shares of the real estate investment trust's stock valued at $95,552,000 after acquiring an additional 633,688 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Apple Hospitality REIT by 1.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,401,005 shares of the real estate investment trust's stock valued at $82,637,000 after purchasing an additional 80,591 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Apple Hospitality REIT by 7.0% during the third quarter. Dimensional Fund Advisors LP now owns 3,306,184 shares of the real estate investment trust's stock worth $39,707,000 after purchasing an additional 215,355 shares during the period. Nuveen LLC acquired a new stake in Apple Hospitality REIT during the 1st quarter worth approximately $40,841,000. Finally, UBS Group AG boosted its stake in Apple Hospitality REIT by 94.3% in the 3rd quarter. UBS Group AG now owns 2,935,463 shares of the real estate investment trust's stock valued at $35,255,000 after purchasing an additional 1,424,287 shares during the period. Institutional investors own 89.66% of the company's stock.
About Apple Hospitality REIT
(
Get Free Report)
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.
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