Apple Hospitality REIT, Inc. (NYSE:APLE) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.
Other analysts also recently issued research reports about the company. FBR & Co set a $20.00 target price on Apple Hospitality REIT and gave the company a “hold” rating in a research note on Monday, March 6th. Canaccord Genuity downgraded Apple Hospitality REIT from a “buy” rating to a “hold” rating and decreased their target price for the company from $22.00 to $21.00 in a research note on Friday, March 3rd. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Thursday, April 6th. Robert W. Baird reissued an “outperform” rating and set a $21.00 target price on shares of Apple Hospitality REIT in a research note on Thursday, April 6th. Finally, Wells Fargo & Company began coverage on Apple Hospitality REIT in a research note on Wednesday, May 3rd. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $19.40.
Shares of Apple Hospitality REIT (NYSE:APLE) traded up 0.16% on Friday, hitting $19.37. The stock had a trading volume of 1,280,879 shares. Apple Hospitality REIT has a 52 week low of $17.32 and a 52 week high of $20.68. The firm has a 50-day moving average price of $18.86 and a 200-day moving average price of $19.39. The stock has a market capitalization of $4.32 billion, a P/E ratio of 27.24 and a beta of 0.61.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by $0.01. Apple Hospitality REIT had a return on equity of 4.38% and a net margin of 13.01%. The company had revenue of $292.90 million during the quarter, compared to the consensus estimate of $291.05 million. During the same period last year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. Equities analysts expect that Apple Hospitality REIT will post $0.97 earnings per share for the current fiscal year.
The firm also recently announced a monthly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, June 2nd were paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend was Wednesday, May 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 166.67%.
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In other Apple Hospitality REIT news, insider Glade M. Knight bought 5,400 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were bought at an average price of $18.99 per share, with a total value of $102,546.00. Following the purchase, the insider now owns 10,021,357 shares of the company’s stock, valued at $190,305,569.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glade M. Knight bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average cost of $18.51 per share, for a total transaction of $55,530.00. Following the purchase, the insider now directly owns 10,015,957 shares in the company, valued at approximately $185,395,364.07. The disclosure for this purchase can be found here. Insiders have purchased a total of 13,800 shares of company stock worth $258,732 in the last three months. 6.40% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Apple Hospitality REIT by 0.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 23,820 shares of the real estate investment trust’s stock valued at $455,000 after buying an additional 197 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in Apple Hospitality REIT by 1.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,277 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 220 shares in the last quarter. Stevens Capital Management LP boosted its position in Apple Hospitality REIT by 0.4% in the first quarter. Stevens Capital Management LP now owns 53,875 shares of the real estate investment trust’s stock valued at $1,029,000 after buying an additional 235 shares in the last quarter. National Asset Management Inc. boosted its position in Apple Hospitality REIT by 1.0% in the first quarter. National Asset Management Inc. now owns 35,627 shares of the real estate investment trust’s stock valued at $682,000 after buying an additional 348 shares in the last quarter. Finally, Bruderman Asset Management LLC boosted its position in Apple Hospitality REIT by 3.7% in the first quarter. Bruderman Asset Management LLC now owns 10,361 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 372 shares in the last quarter. 47.83% of the stock is currently owned by institutional investors.
About Apple Hospitality REIT
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 December 31, 2016, the Company owned 235 hotels with an aggregate of 30,073 rooms located in urban, suburban and developing markets throughout 33 states.
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