Insider Buying: Apple Hospitality REIT (NYSE:APLE) Chairman Purchases 5,000 Shares of Stock

Key Points

  • Chairman Glade Knight bought 5,000 shares at an average price of $11.91 on Dec. 11, raising his stake 0.71% to 710,344 shares valued at about $8.46 million.
  • Apple Hospitality declared a monthly dividend of $0.08 per share (ex-dividend Nov. 28, payable Dec. 15), implying a roughly 7.9% yield but a high payout ratio of about 131.5%.
  • The company slightly beat the last quarter's EPS estimate ($0.42 vs. $0.40), has a $2.87 billion market cap, and carries a consensus analyst rating of "Hold" with an average target of $12.70.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) Chairman Glade Knight bought 5,000 shares of the business's stock in a transaction on Thursday, December 11th. The shares were acquired at an average price of $11.91 per share, with a total value of $59,550.00. Following the transaction, the chairman owned 710,344 shares of the company's stock, valued at $8,460,197.04. The trade was a 0.71% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Apple Hospitality REIT Stock Up 1.8%

APLE stock opened at $12.13 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.06 and a quick ratio of 0.06. The company's 50 day simple moving average is $11.63 and its 200-day simple moving average is $11.98. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.28. The firm has a market capitalization of $2.87 billion, a PE ratio of 16.62 and a beta of 0.83.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. The firm had revenue of $373.88 million for the quarter, compared to analyst estimates of $371.94 million. Apple Hospitality REIT had a return on equity of 5.46% and a net margin of 12.37%. Equities 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 business also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 7.9%. The ex-dividend date is Friday, November 28th. Apple Hospitality REIT's dividend payout ratio (DPR) is currently 131.51%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Apple Hospitality REIT in a report on Wednesday, October 1st. They issued an "overweight" rating and a $14.00 target price on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of Apple Hospitality REIT in a research report on Thursday, October 30th. Wells Fargo & Company upgraded Apple Hospitality REIT to a "hold" rating in a report on Friday, October 3rd. Robert W. Baird reduced their price target on 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. Finally, Bank of America downgraded Apple Hospitality REIT from a "buy" rating to a "neutral" rating and set a $11.50 price objective for the company. in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $12.70.

Check Out Our Latest Stock Analysis on APLE

Institutional Trading of Apple Hospitality REIT

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its holdings in shares of Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock worth $31,000 after buying an additional 1,814 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Apple Hospitality REIT by 12,230.0% during the second quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 2,446 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Apple Hospitality REIT by 444.4% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 2,280 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 2,640 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in shares of Apple Hospitality REIT during the 3rd quarter worth about $34,000. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Company Profile

(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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