Key Points
- Chairman Glade Knight bought 5,000 shares of Apple Hospitality REIT at $13.96 each, a $69,800 purchase that lifted his stake by 0.67% to 747,191 shares.
- Apple Hospitality REIT beat quarterly expectations, reporting EPS of $0.12 versus $0.11 expected and revenue of $337.74 million versus $327.81 million estimated.
- The company announced a monthly dividend of $0.08 per share, implying an annualized yield of about 7.0%, while analysts currently rate the stock a consensus Hold with an average target price of $12.93.
Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) Chairman Glade Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the transaction, the chairman owned 747,191 shares of the company's stock, valued at approximately $10,430,786.36. This represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Apple Hospitality REIT Price Performance
NYSE:APLE opened at $13.81 on Thursday. The firm has a market cap of $3.26 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 8.26 and a beta of 0.88. Apple Hospitality REIT, Inc. has a 12 month low of $10.85 and a 12 month high of $14.19. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The company's 50-day moving average price is $12.48 and its two-hundred day moving average price is $12.15.
Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. The firm had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. On average, equities analysts anticipate that Apple Hospitality REIT, Inc. will post 1.55 EPS for the current fiscal year.
Apple Hospitality REIT Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be given a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Thursday, April 30th. Apple Hospitality REIT's dividend payout ratio is presently 131.51%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on APLE shares. LADENBURG THALM/SH SH started coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They set a "neutral" rating and a $13.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Apple Hospitality REIT in a research report on Wednesday, April 22nd. Cantor Fitzgerald upped their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Barclays reduced their target price on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 7th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Apple Hospitality REIT currently has a consensus rating of "Hold" and an average target price of $12.93.
View Our Latest Report on APLE
Institutional Investors Weigh In On Apple Hospitality REIT
A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its stake in shares of Apple Hospitality REIT by 0.5% during the fourth quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust's stock worth $154,627,000 after buying an additional 68,794 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Apple Hospitality REIT by 1.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust's stock worth $84,227,000 after buying an additional 127,327 shares during the last quarter. UBS Group AG raised its stake in shares of Apple Hospitality REIT by 60.8% during the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust's stock worth $55,950,000 after buying an additional 1,786,018 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Apple Hospitality REIT by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust's stock worth $55,871,000 after buying an additional 125,759 shares during the last quarter. Finally, Centerbridge Partners L.P. raised its stake in shares of Apple Hospitality REIT by 88.2% during the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust's stock worth $50,123,000 after buying an additional 1,982,000 shares during the last quarter. 89.66% of the stock is owned by institutional investors.
About Apple Hospitality REIT
(
Get Free Report)
Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company's portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.
The company's holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.
Further Reading
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