Barclays upgraded shares of Apple Hospitality REIT (NYSE:APLE) from an equal weight rating to an overweight rating in a report issued on Monday, BenzingaRatingsTable reports. The firm currently has $18.00 price target on the real estate investment trust’s stock.
Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Apple Hospitality REIT from a hold rating to a sell rating in a report on Thursday, August 8th. ValuEngine raised shares of Apple Hospitality REIT from a sell rating to a hold rating in a report on Wednesday, May 1st. Finally, Capital One Financial started coverage on shares of Apple Hospitality REIT in a report on Tuesday, June 25th. They set an equal weight rating and a $17.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Apple Hospitality REIT currently has a consensus rating of Hold and an average price target of $18.25.
Shares of APLE opened at $15.49 on Monday. The business’s fifty day simple moving average is $15.60. Apple Hospitality REIT has a 12 month low of $13.81 and a 12 month high of $17.99. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 1.86 and a beta of 0.82. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.05.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. The business had revenue of $341.12 million during the quarter, compared to the consensus estimate of $340.44 million. Apple Hospitality REIT had a net margin of 15.44% and a return on equity of 5.75%. Apple Hospitality REIT’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. Research analysts anticipate that Apple Hospitality REIT will post 1.65 EPS for the current year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, August 2nd will be issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.75%. The ex-dividend date is Thursday, August 1st. Apple Hospitality REIT’s dividend payout ratio is currently 69.77%.
In related news, Director Redd Hugh purchased 2,000 shares of Apple Hospitality REIT stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.55 per share, with a total value of $31,100.00. Following the acquisition, the director now directly owns 95,154 shares in the company, valued at $1,479,644.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction on Friday, May 17th. The stock was bought at an average cost of $16.42 per share, with a total value of $82,100.00. Following the completion of the acquisition, the chairman now owns 10,128,812 shares in the company, valued at $166,315,093.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 14,000 shares of company stock valued at $221,910. 6.50% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. Penserra Capital Management LLC bought a new stake in Apple Hospitality REIT in the 1st quarter valued at $37,000. Point72 Hong Kong Ltd boosted its holdings in Apple Hospitality REIT by 159.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,355 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 1,448 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Apple Hospitality REIT by 113.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,386 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,267 shares during the period. AGF Investments LLC boosted its holdings in Apple Hospitality REIT by 72.9% in the 2nd quarter. AGF Investments LLC now owns 2,471 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,042 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in Apple Hospitality REIT by 353.3% in the 1st quarter. Quadrant Capital Group LLC now owns 3,400 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 2,650 shares during the period. 56.90% of the stock is owned by hedge funds and other institutional investors.
Apple Hospitality REIT Company Profile
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.
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