Apple Hospitality REIT, Inc. (NYSE:APLE) Chairman Buys $70,200.00 in Stock

Apple Hospitality REIT, Inc. (NYSE:APLE) Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $14.04 per share, with a total value of $70,200.00. Following the completion of the acquisition, the chairman now directly owns 636,990 shares in the company, valued at $8,943,339.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Apple Hospitality REIT Stock Performance

Shares of APLE stock opened at $14.05 on Monday. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 16.34 and a beta of 1.11. The stock has a fifty day moving average of $14.50 and a 200 day moving average of $15.28. Apple Hospitality REIT, Inc. has a 52 week low of $13.72 and a 52 week high of $17.90. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.48.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.13). Apple Hospitality REIT had a return on equity of 6.11% and a net margin of 14.58%. The company had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, research analysts expect that Apple Hospitality REIT, Inc. will post 1.4 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, July 31st. This represents a $0.96 annualized dividend and a yield of 6.83%. Apple Hospitality REIT’s payout ratio is 111.63%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Edgestream Partners L.P. grew its stake in Apple Hospitality REIT by 400.8% in the second quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust’s stock worth $9,286,000 after purchasing an additional 511,100 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Apple Hospitality REIT by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock valued at $49,072,000 after buying an additional 154,159 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Apple Hospitality REIT in the 2nd quarter worth about $563,000. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Apple Hospitality REIT in the 2nd quarter worth about $1,437,000. Finally, BOKF NA bought a new position in shares of Apple Hospitality REIT in the 2nd quarter worth about $270,000. Institutional investors own 89.66% of the company’s stock.

Analysts Set New Price Targets

APLE has been the subject of a number of analyst reports. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Wedbush started coverage on Apple Hospitality REIT in a research note on Monday, June 3rd. They issued a “neutral” rating and a $15.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.00.

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, 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.