Apple Hospitality REIT, Inc. (APLE) Raised to “Hold” at BidaskClub
BidaskClub upgraded shares of Apple Hospitality REIT, Inc. (NYSE:APLE) from a sell rating to a hold rating in a report released on Friday.
Other analysts have also issued reports about the stock. B. Riley reissued a neutral rating on shares of Apple Hospitality REIT in a research report on Wednesday, November 1st. Canaccord Genuity reissued a hold rating and issued a $19.00 price objective (down from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. Robert W. Baird set a $20.00 target price on shares of Apple Hospitality REIT and gave the stock a buy rating in a research report on Sunday, October 29th. Finally, Zacks Investment Research raised shares of Apple Hospitality REIT from a sell rating to a hold rating in a research report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $19.67.
Shares of Apple Hospitality REIT (APLE) opened at $19.13 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.05 and a quick ratio of 0.05. Apple Hospitality REIT has a 1 year low of $17.35 and a 1 year high of $20.68. The firm has a market cap of $4,267.15, a PE ratio of 10.93, a P/E/G ratio of 2.21 and a beta of 0.60.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a net margin of 18.37% and a return on equity of 6.46%. The company had revenue of $324.90 million for the quarter, compared to analyst estimates of $324.66 million. During the same period in the prior year, the company posted $0.49 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. equities research analysts predict that Apple Hospitality REIT will post 1.73 earnings per share for the current fiscal year.
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The business also recently announced a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date of this dividend is Thursday, November 2nd. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 118.81%.
In related news, Director Redd Hugh bought 5,000 shares of Apple Hospitality REIT stock in a transaction dated Monday, August 28th. The shares were acquired at an average cost of $17.83 per share, with a total value of $89,150.00. Following the completion of the transaction, the director now owns 61,495 shares in the company, valued at approximately $1,096,455.85. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group bought a new position in shares of Apple Hospitality REIT during the second quarter valued at approximately $102,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Apple Hospitality REIT by 26.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock valued at $124,000 after purchasing an additional 1,393 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Apple Hospitality REIT by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 494 shares in the last quarter. IMS Capital Management bought a new position in shares of Apple Hospitality REIT during the second quarter valued at approximately $140,000. Finally, Ffcm LLC boosted its stake in shares of Apple Hospitality REIT by 353.1% during the second quarter. Ffcm LLC now owns 8,374 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 6,526 shares in the last quarter. Hedge funds and other institutional investors own 49.78% of the company’s stock.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of September 13, 2017, the Company owned 237 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 33 states.
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