BidaskClub upgraded shares of Apple Hospitality REIT, Inc. (NYSE:APLE) from a sell rating to a hold rating in a research note issued to investors on Friday morning.
Several other equities research analysts also recently issued reports on APLE. Zacks Investment Research downgraded shares of Apple Hospitality REIT from a hold rating to a sell rating in a research report on Thursday, November 9th. B. Riley reissued a neutral rating on shares of Apple Hospitality REIT in a research report on Wednesday, November 1st. Robert W. Baird set a $20.00 price objective on shares of Apple Hospitality REIT and gave the stock a buy rating in a research report on Sunday, October 29th. Finally, Canaccord Genuity reissued a hold rating and set a $19.00 price objective (down previously from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Apple Hospitality REIT currently has a consensus rating of Hold and a consensus target price of $19.67.
Shares of Apple Hospitality REIT (NYSE APLE) opened at $19.24 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.12. The firm has a market cap of $4,267.15, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 2.21 and a beta of 0.60. Apple Hospitality REIT has a twelve month low of $17.49 and a twelve month high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The company had revenue of $324.90 million for the quarter, compared to analyst estimates of $324.66 million. Apple Hospitality REIT had a net margin of 18.37% and a return on equity of 6.46%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. sell-side analysts anticipate that Apple Hospitality REIT will post 1.73 EPS for the current year.
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The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.24%. The ex-dividend date of this dividend is Thursday, November 2nd. Apple Hospitality REIT’s dividend payout ratio is 118.81%.
In other Apple Hospitality REIT news, Director Redd Hugh bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was acquired at an average price of $17.96 per share, with a total value of $35,920.00. Following the completion of the transaction, the director now owns 59,495 shares in the company, valued at $1,068,530.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was acquired at an average cost of $19.18 per share, with a total value of $95,900.00. Following the transaction, the insider now owns 10,046,357 shares of the company’s stock, valued at approximately $192,689,127.26. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 12,000 shares of company stock valued at $220,970. 6.30% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in Apple Hospitality REIT by 4.2% in the second quarter. SG Americas Securities LLC now owns 11,771 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 471 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Apple Hospitality REIT by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 494 shares during the last quarter. GAM Holding AG lifted its stake in Apple Hospitality REIT by 2.8% in the second quarter. GAM Holding AG now owns 18,100 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 500 shares during the last quarter. Ken Stern & Associates Inc. lifted its stake in Apple Hospitality REIT by 5.4% in the second quarter. Ken Stern & Associates Inc. now owns 12,606 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 647 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Apple Hospitality REIT by 8.0% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,775 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 875 shares during the last quarter. Hedge funds and other institutional investors own 49.78% of the company’s stock.
Apple Hospitality REIT Company Profile
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of September 13, 2017, the Company owned 237 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 33 states.
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