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

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Apple Hospitality REIT Inc (NYSE:APLE) was the target of some unusual options trading activity on Thursday. Stock investors bought 3,069 call options on the company. This is an increase of approximately 903% compared to the average volume of 306 call options.

Shares of APLE traded up $0.32 during mid-day trading on Thursday, hitting $9.58. The company’s stock had a trading volume of 721,102 shares, compared to its average volume of 5,338,137. The firm has a 50-day moving average price of $12.11 and a 200 day moving average price of $15.09. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 12.43 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.24 and a quick ratio of 0.24. Apple Hospitality REIT has a fifty-two week low of $4.48 and a fifty-two week high of $16.88.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.22). Apple Hospitality REIT had a return on equity of 5.16% and a net margin of 13.57%. The firm had revenue of $289.97 million during the quarter, compared to analysts’ expectations of $288.45 million. As a group, equities analysts anticipate that Apple Hospitality REIT will post 1.54 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, March 4th were given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 12.53%. The ex-dividend date was Tuesday, March 3rd. Apple Hospitality REIT’s payout ratio is presently 73.62%.

In other news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average cost of $11.90 per share, with a total value of $59,500.00. Following the acquisition, the chairman now owns 10,211,968 shares in the company, valued at $121,522,419.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in APLE. FMR LLC grew its position in Apple Hospitality REIT by 3.0% during the first quarter. FMR LLC now owns 1,836,402 shares of the real estate investment trust’s stock valued at $29,933,000 after purchasing an additional 53,390 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Apple Hospitality REIT by 513.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 695,528 shares of the real estate investment trust’s stock valued at $11,336,000 after acquiring an additional 582,110 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Apple Hospitality REIT by 40.6% in the third quarter. Tower Research Capital LLC TRC now owns 3,354 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 968 shares during the last quarter. State Street Corp lifted its stake in Apple Hospitality REIT by 2.8% in the third quarter. State Street Corp now owns 9,679,447 shares of the real estate investment trust’s stock valued at $160,485,000 after acquiring an additional 267,528 shares during the last quarter. Finally, Pacitti Group Inc. acquired a new stake in Apple Hospitality REIT in the third quarter valued at approximately $119,000. 62.08% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on APLE. Janney Montgomery Scott began coverage on shares of Apple Hospitality REIT in a research report on Monday, December 16th. They issued a “buy” rating and a $18.00 price objective on the stock. Capital One Financial upgraded shares of Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $17.00 to $14.00 in a research report on Monday, March 9th. B. Riley dropped their price target on shares of Apple Hospitality REIT from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday. ValuEngine downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Tuesday, March 3rd. Finally, Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Thursday, March 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $14.40.

About Apple Hospitality REIT

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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.

Read More: Net Asset Value

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