Apple Hospitality REIT Inc. (APLE) Rating Reiterated by FBR & Co
Apple Hospitality REIT Inc. (NYSE:APLE)‘s stock had its “hold” rating reiterated by research analysts at FBR & Co in a research report issued on Wednesday. They presently have a $20.00 price target on the stock. FBR & Co’s target price suggests a potential upside of 14.61% from the company’s current price.
A number of other research analysts have also recently issued reports on the company. Canaccord Genuity reissued a “buy” rating and issued a $22.00 target price on shares of Apple Hospitality REIT in a research note on Monday. Robert W. Baird reissued a “neutral” rating and issued a $20.00 target price on shares of Apple Hospitality REIT in a research note on Thursday, September 8th. Ladenburg Thalmann restated a “sell” rating and issued a $13.00 price target on shares of Apple Hospitality REIT in a report on Sunday, September 4th. Finally, Zacks Investment Research lowered Apple Hospitality REIT from a “buy” rating to a “hold” rating in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Apple Hospitality REIT currently has an average rating of “Hold” and a consensus price target of $19.20.
Apple Hospitality REIT (NYSE:APLE) opened at 17.45 on Wednesday. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 25.70 and a beta of 0.63. The stock’s 50 day moving average price is $18.19 and its 200-day moving average price is $18.87. Apple Hospitality REIT has a one year low of $16.35 and a one year high of $20.97.
Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, November 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Apple Hospitality REIT had a return on equity of 3.24% and a net margin of 8.78%. The firm earned $276.50 million during the quarter, compared to analysts’ expectations of $16.75 million. The firm’s revenue was up 14.9% on a year-over-year basis. Analysts forecast that Apple Hospitality REIT will post $1.75 earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Tuesday, November 15th. Investors of record on Wednesday, November 2nd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, October 31st. This represents a $1.20 annualized dividend and a yield of 6.88%. Apple Hospitality REIT’s payout ratio is presently 250.01%.
In related news, Director Jon A. Fosheim bought 1,612 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were acquired at an average price of $18.62 per share, for a total transaction of $30,015.44. Following the completion of the acquisition, the director now owns 12,435 shares of the company’s stock, valued at approximately $231,539.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Redd Hugh bought 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were bought at an average price of $18.30 per share, for a total transaction of $82,350.00. Following the acquisition, the director now directly owns 30,323 shares of the company’s stock, valued at approximately $554,910.90. The disclosure for this purchase can be found here. Corporate insiders own 6.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in Apple Hospitality REIT by 808.2% in the third quarter. Morgan Stanley now owns 413,705 shares of the company’s stock valued at $7,659,000 after buying an additional 368,154 shares in the last quarter. Pacer Advisors Inc. raised its stake in Apple Hospitality REIT by 40.1% in the third quarter. Pacer Advisors Inc. now owns 29,573 shares of the company’s stock valued at $547,000 after buying an additional 8,458 shares in the last quarter. Principal Financial Group Inc. raised its stake in Apple Hospitality REIT by 4.2% in the third quarter. Principal Financial Group Inc. now owns 29,095 shares of the company’s stock valued at $539,000 after buying an additional 1,160 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Apple Hospitality REIT during the third quarter valued at about $2,671,000. Finally, Northern Trust Corp raised its stake in Apple Hospitality REIT by 3.4% in the third quarter. Northern Trust Corp now owns 1,342,298 shares of the company’s stock valued at $24,847,000 after buying an additional 44,501 shares in the last quarter. Institutional investors and hedge funds own 34.40% of the company’s stock.
Apple Hospitality REIT Company Profile
Apple Hospitality REIT, Inc is a self-advised real estate investment trust (REIT) that invests in income-producing real estate, primarily in the lodging sector, in the United States. The Company owns hotel properties throughout the United States. The Company owns approximately 180 hotels operating in over 30 states with an aggregate of approximately 22,960 rooms.
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