Apple Hospitality REIT Inc. Announces Monthly Dividend of $0.10 (APLE)
Apple Hospitality REIT Inc. (NYSE:APLE) announced a monthly dividend on Wednesday, September 21st. Investors of record on Tuesday, October 4th will be given a dividend of 0.10 per share on Monday, October 17th. This represents a $1.20 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date is Friday, September 30th.
Apple Hospitality REIT (NYSE:APLE) traded up 1.03% on Wednesday, hitting $18.70. The stock had a trading volume of 1,077,236 shares. The company’s 50 day moving average is $19.35 and its 200-day moving average is $19.18. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 27.54 and a beta of 0.61. Apple Hospitality REIT has a 1-year low of $16.35 and a 1-year high of $20.97.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 8th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Apple Hospitality REIT had a net margin of 12.67% and a return on equity of 4.47%. The company earned $257.60 million during the quarter, compared to the consensus estimate of $254.79 million. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts forecast that Apple Hospitality REIT will post $1.76 EPS for the current year.
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A number of research analysts have commented on the company. Canaccord Genuity reiterated a “buy” rating on shares of Apple Hospitality REIT in a research report on Thursday, May 26th. Zacks Investment Research lowered Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Ladenburg Thalmann reiterated a “sell” rating and issued a $13.00 price objective on shares of Apple Hospitality REIT in a research report on Sunday, September 4th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price objective on shares of Apple Hospitality REIT in a research report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.00.
In other news, insider Glade M. Knight acquired 5,385 shares of the stock in a transaction on Friday, September 9th. The stock was acquired at an average cost of $18.43 per share, for a total transaction of $99,245.55. Following the completion of the transaction, the insider now directly owns 9,996,232 shares in the company, valued at $184,230,555.76. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Redd Hugh acquired 2,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 25,823 shares of the company’s stock, valued at $477,983.73. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in APLE. Advisor Group Inc. purchased a new position in shares of Apple Hospitality REIT during the second quarter valued at approximately $127,000. Raymond James & Associates increased its position in shares of Apple Hospitality REIT by 24.5% in the second quarter. Raymond James & Associates now owns 16,144 shares of the company’s stock valued at $304,000 after buying an additional 3,181 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Apple Hospitality REIT during the second quarter valued at approximately $327,000. Pacer Advisors Inc. increased its position in shares of Apple Hospitality REIT by 507.3% in the second quarter. Pacer Advisors Inc. now owns 21,115 shares of the company’s stock valued at $397,000 after buying an additional 17,638 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in shares of Apple Hospitality REIT during the second quarter valued at approximately $431,000. Institutional investors and hedge funds own 33.39% 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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