Apple Hospitality REIT Inc. (NYSE:APLE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Apple Hospitality REIT, Inc. is a real estate investment trust. Its portfolio consists of hotels, guest rooms and resorts. The company operates primarily in the United States. Apple Hospitality REIT, Inc. is headquarted in Richmond, VA. “

A number of other equities research analysts have also weighed in on APLE. FBR & Co reiterated a “hold” rating and set a $20.00 price objective on shares of Apple Hospitality REIT in a report on Wednesday, November 9th. Canaccord Genuity reiterated a “buy” rating and set a $22.00 price objective on shares of Apple Hospitality REIT in a report on Monday, November 7th. Ladenburg Thalmann reiterated a “sell” rating and set a $13.00 price objective on shares of Apple Hospitality REIT in a report on Sunday, September 4th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $20.00 price objective on shares of Apple Hospitality REIT in a report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $19.20.

Analyst Recommendations for Apple Hospitality REIT (NYSE:APLE)

Shares of Apple Hospitality REIT (NYSE:APLE) opened at 18.16 on Friday. Apple Hospitality REIT has a 12-month low of $16.35 and a 12-month high of $20.97. The stock’s 50 day moving average is $18.14 and its 200-day moving average is $18.85. The stock has a market cap of $4.06 billion, a PE ratio of 37.99 and a beta of 0.63.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Apple Hospitality REIT had a net margin of 8.78% and a return on equity of 2.98%. The company earned $276.50 million during the quarter, compared to analyst estimates of $16.75 million. The business’s revenue was up 14.9% compared to the same quarter last year. Equities analysts expect that Apple Hospitality REIT will post $1.75 EPS for the current year.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Wednesday, November 2nd will be issued a $0.10 dividend. The ex-dividend date is Monday, October 31st. This represents a $1.20 annualized dividend and a dividend yield of 6.61%. Apple Hospitality REIT’s dividend payout ratio is currently 250.01%.

In other news, insider Glade M. Knight acquired 5,385 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, September 9th. The stock was purchased at an average price of $18.43 per share, for a total transaction of $99,245.55. Following the purchase, the insider now directly owns 9,996,232 shares in the company, valued at approximately $184,230,555.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Redd Hugh acquired 2,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Thursday, September 8th. The shares were purchased at an average price of $18.51 per share, with a total value of $37,020.00. Following the purchase, the director now owns 25,823 shares in the company, valued at $477,983.73. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its position in Apple Hospitality REIT by 1.8% in the second quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the company’s stock valued at $105,000 after buying an additional 100 shares during the period. PNC Financial Services Group Inc. raised its position in Apple Hospitality REIT by 0.6% in the third quarter. PNC Financial Services Group Inc. now owns 19,659 shares of the company’s stock valued at $364,000 after buying an additional 113 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Apple Hospitality REIT by 0.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,765 shares of the company’s stock valued at $477,000 after buying an additional 141 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Apple Hospitality REIT by 6.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,340 shares of the company’s stock valued at $157,000 after buying an additional 506 shares during the period. Finally, Mizuho Trust & Banking Co. Ltd. raised its position in Apple Hospitality REIT by 3.6% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 30,085 shares of the company’s stock valued at $566,000 after buying an additional 1,058 shares during the period. Hedge funds and other institutional investors own 34.97% of the company’s stock.

About Apple Hospitality REIT

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.

5 Day Chart for NYSE:APLE

Receive News & Stock Ratings for Apple Hospitality REIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Hospitality REIT Inc. and related stocks with our FREE daily email newsletter.