Key Points
- Director Redd Hugh purchased 1,000 shares on November 13 at an average price of $11.75, raising his stake to 138,254 shares (a 0.73% increase) valued at about $1.624 million.
- Apple Hospitality declared a monthly dividend of $0.08 per share (paid November 17), implying an approximate 8.3% yield and a payout ratio of 131.51%.
- The REIT beat quarterly estimates with $0.42 EPS vs. $0.40 expected and $373.88M revenue vs. $371.94M expected; analysts have an average rating of Hold and a $12.70 price target.
Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) Director Redd Hugh acquired 1,000 shares of the firm's stock in a transaction that occurred on Thursday, November 13th. The stock was bought at an average price of $11.75 per share, for a total transaction of $11,750.00. Following the completion of the transaction, the director owned 138,254 shares of the company's stock, valued at $1,624,484.50. The trade was a 0.73% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Apple Hospitality REIT Trading Down 1.4%
Shares of Apple Hospitality REIT stock opened at $11.57 on Tuesday. 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 1 year low of $10.44 and a 1 year high of $16.50. The firm has a market cap of $2.74 billion, a PE ratio of 15.43 and a beta of 1.04. The company has a 50 day simple moving average of $11.85 and a two-hundred day simple moving average of $11.99.
Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. The firm had revenue of $373.88 million for the quarter, compared to analysts' expectations of $371.94 million. Analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.
Apple Hospitality REIT Announces Dividend
The company also recently declared a monthly dividend, which was paid on Monday, November 17th. Shareholders of record on Friday, October 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a c) annualized dividend and a yield of 8.3%. Apple Hospitality REIT's payout ratio is 131.51%.
Institutional Trading of Apple Hospitality REIT
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its stake in shares of Apple Hospitality REIT by 1.3% during 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 period. Dimensional Fund Advisors LP raised its holdings in Apple Hospitality REIT by 7.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,306,184 shares of the real estate investment trust's stock valued at $39,707,000 after buying an additional 215,355 shares during the last quarter. Nuveen LLC purchased a new stake in Apple Hospitality REIT during the 1st quarter valued at $40,841,000. UBS Group AG grew its holdings 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 worth $35,255,000 after acquiring an additional 1,424,287 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Apple Hospitality REIT by 8.8% in the second quarter. LSV Asset Management now owns 2,741,253 shares of the real estate investment trust's stock valued at $31,990,000 after acquiring an additional 221,976 shares during the period. Institutional investors own 89.66% of the company's stock.
Analysts Set New Price Targets
APLE has been the topic of several recent research reports. Wells Fargo & Company upgraded Apple Hospitality REIT to a "hold" rating in a research report on Friday, October 3rd. Cantor Fitzgerald started coverage on shares of Apple Hospitality REIT in a research report on Wednesday, October 1st. They set an "overweight" rating and a $14.00 price target on the stock. Bank of America downgraded shares of Apple Hospitality REIT from a "buy" rating to a "neutral" rating and set a $11.50 price target on the stock. in a research note on Tuesday, November 4th. Robert W. Baird cut their price objective on shares of 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. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Apple Hospitality REIT in a report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $12.70.
Check Out Our Latest Analysis on Apple Hospitality REIT
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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