Apple Hospitality REIT Inc. (APLE) Stock Rating Upgraded by Robert W. Baird
Apple Hospitality REIT Inc. (NYSE:APLE) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday. The firm presently has a $20.00 price target on the stock, up from their previous price target of $19.00. Robert W. Baird’s price objective would suggest a potential upside of 8.46% from the company’s current price.
Several other research analysts have also recently issued reports on APLE. Zacks Investment Research cut shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Ladenburg Thalmann restated a “sell” rating and issued a $13.00 target price on shares of Apple Hospitality REIT in a report on Sunday, September 4th. Canaccord Genuity restated a “buy” rating and issued a $22.00 target price on shares of Apple Hospitality REIT in a report on Monday, November 7th. Finally, FBR & Co restated a “hold” rating and issued a $20.00 target price on shares of Apple Hospitality REIT in a report on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $19.20.
Apple Hospitality REIT (NYSE:APLE) opened at 18.44 on Tuesday. The stock has a market cap of $4.12 billion, a PE ratio of 38.58 and a beta of 0.63. Apple Hospitality REIT has a 12-month low of $16.35 and a 12-month high of $20.97. The firm has a 50-day moving average of $18.03 and a 200-day moving average of $18.78.
Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned $276.50 million during the quarter, compared to analysts’ expectations of $16.75 million. The company’s revenue was up 14.9% on a year-over-year basis. Equities analysts predict that Apple Hospitality REIT will post $1.75 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, December 2nd will be paid a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date of this dividend is Wednesday, November 30th. Apple Hospitality REIT’s dividend payout ratio is currently 250.01%.
In other news, insider Glade M. Knight bought 5,385 shares of Apple Hospitality REIT stock in a transaction dated Friday, September 9th. The stock was bought at an average price of $18.43 per share, for a total transaction of $99,245.55. Following the purchase, the insider now owns 9,996,232 shares of the company’s stock, valued at $184,230,555.76. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Glade M. Knight bought 2,825 shares of Apple Hospitality REIT stock in a transaction dated Friday, November 11th. The stock was purchased at an average price of $17.55 per share, with a total value of $49,578.75. Following the purchase, the insider now directly owns 10,001,882 shares in the company, valued at approximately $175,533,029.10. The disclosure for this purchase can be found here. Corporate insiders own 6.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in APLE. Daiwa Securities Group Inc. boosted its stake 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. TLP Group LLC purchased a new stake in Apple Hospitality REIT during the third quarter valued at approximately $125,000. Advisor Group Inc. purchased a new stake in Apple Hospitality REIT during the second quarter valued at approximately $127,000. MSI Financial Services Inc boosted its stake in Apple Hospitality REIT by 213.0% in the third quarter. MSI Financial Services Inc now owns 7,337 shares of the company’s stock valued at $136,000 after buying an additional 4,993 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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. Institutional investors own 40.29% 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.
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