Apple Hospitality REIT Inc. (APLE) Given Average Rating of “Hold” by Brokerages
Apple Hospitality REIT Inc. (NYSE:APLE) has earned an average rating of “Hold” from the six ratings firms that are covering the stock. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $18.75.
APLE has been the topic of several recent analyst reports. Zacks Investment Research lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Friday, November 11th. Ladenburg Thalmann reiterated a “sell” rating and set a $13.00 target price on shares of Apple Hospitality REIT in a report on Sunday, September 4th. Robert W. Baird reiterated a “neutral” rating and set a $20.00 target price on shares of Apple Hospitality REIT in a report on Thursday, September 8th. FBR & Co reiterated a “hold” rating and set a $20.00 target price on shares of Apple Hospitality REIT in a report on Wednesday, November 9th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $22.00 target price on shares of Apple Hospitality REIT in a report on Monday, November 7th.
Apple Hospitality REIT (NYSE:APLE) traded up 0.310% during mid-day trading on Friday, hitting $17.825. The stock had a trading volume of 485,385 shares. The company has a market capitalization of $3.98 billion, a P/E ratio of 37.291 and a beta of 0.63. Apple Hospitality REIT has a 52 week low of $16.35 and a 52 week high of $20.97. The stock’s 50-day moving average is $18.07 and its 200 day moving average is $18.83.
Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, November 7th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $276.50 million for the quarter, compared to analyst estimates of $16.75 million. Apple Hospitality REIT had a return on equity of 2.98% and a net margin of 8.78%. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts forecast that Apple Hospitality REIT will post $1.75 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Wednesday, November 2nd were paid a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.75%. The ex-dividend date of this dividend was Monday, October 31st. Apple Hospitality REIT’s dividend payout ratio is 250.01%.
In related news, Director Redd Hugh bought 2,000 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were acquired at an average price of $18.51 per share, with a total value of $37,020.00. Following the completion of the transaction, the director now owns 25,823 shares in the company, valued at $477,983.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Glade M. Knight bought 5,385 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was bought at an average cost of $18.43 per share, for a total transaction of $99,245.55. Following the transaction, the insider now owns 9,996,232 shares of the company’s stock, valued at approximately $184,230,555.76. The disclosure for this purchase can be found here. 6.40% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Apple Hospitality REIT by 4.8% in the first quarter. Geode Capital Management LLC now owns 1,279,417 shares of the company’s stock worth $25,345,000 after buying an additional 58,631 shares in the last quarter. AMP Capital Investors Ltd increased its stake in Apple Hospitality REIT by 24.2% in the first quarter. AMP Capital Investors Ltd now owns 33,050 shares of the company’s stock worth $652,000 after buying an additional 6,450 shares in the last quarter. Legal & General Group Plc increased its stake in Apple Hospitality REIT by 6.0% in the first quarter. Legal & General Group Plc now owns 314,058 shares of the company’s stock worth $6,222,000 after buying an additional 17,719 shares in the last quarter. LPL Financial LLC increased its stake in Apple Hospitality REIT by 3.7% in the first quarter. LPL Financial LLC now owns 70,962 shares of the company’s stock worth $1,368,000 after buying an additional 2,508 shares in the last quarter. Finally, Barclays PLC increased its stake in Apple Hospitality REIT by 41.3% in the first quarter. Barclays PLC now owns 165,850 shares of the company’s stock worth $3,150,000 after buying an additional 48,447 shares in the last quarter. 34.97% of the stock is currently owned by institutional investors and hedge funds.
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.
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