Apple Hospitality REIT, Inc. (APLE) Given Consensus Recommendation of “Hold” by Brokerages
Apple Hospitality REIT, Inc. (NYSE:APLE) has received an average rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $17.67.
A number of analysts have recently commented on APLE shares. Robert W. Baird reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Apple Hospitality REIT in a research note on Tuesday, July 4th. BidaskClub cut Apple Hospitality REIT from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Canaccord Genuity reissued a “hold” rating and set a $20.00 target price on shares of Apple Hospitality REIT in a research note on Monday, May 8th. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. Finally, Wells Fargo & Company initiated coverage on Apple Hospitality REIT in a research note on Wednesday, May 3rd. They set a “market perform” rating for the company.
Apple Hospitality REIT (APLE) opened at 17.97 on Tuesday. The stock has a 50 day moving average of $18.42 and a 200 day moving average of $19.01. Apple Hospitality REIT has a 52 week low of $17.32 and a 52 week high of $20.68. The firm has a market cap of $4.01 billion, a PE ratio of 21.81 and a beta of 0.60.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $331.70 million during the quarter, compared to the consensus estimate of $335.94 million. Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The business’s revenue was up 28.7% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. Analysts anticipate that Apple Hospitality REIT will post $0.98 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Thursday, August 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 6.68%. Apple Hospitality REIT’s payout ratio is 150.00%.
In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 20,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $17.62 per share, with a total value of $352,400.00. Following the purchase, the chairman now owns 10,041,357 shares in the company, valued at $176,928,710.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin G. Knight bought 17,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $17.62 per share, with a total value of $299,540.00. Following the completion of the purchase, the insider now owns 1,005,274 shares in the company, valued at approximately $17,712,927.88. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 48,800 shares of company stock valued at $873,082. 6.40% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Apple Hospitality REIT by 16.5% in the first quarter. Vanguard Group Inc. now owns 32,734,825 shares of the real estate investment trust’s stock worth $625,236,000 after buying an additional 4,627,374 shares during the last quarter. BlackRock Inc. boosted its stake in Apple Hospitality REIT by 10.7% in the second quarter. BlackRock Inc. now owns 13,276,704 shares of the real estate investment trust’s stock worth $248,408,000 after buying an additional 1,282,080 shares during the last quarter. State Street Corp boosted its stake in Apple Hospitality REIT by 4.8% in the second quarter. State Street Corp now owns 5,687,869 shares of the real estate investment trust’s stock worth $106,419,000 after buying an additional 261,327 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Apple Hospitality REIT by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,882,610 shares of the real estate investment trust’s stock worth $53,935,000 after buying an additional 341,719 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Apple Hospitality REIT by 38.0% in the first quarter. Wells Fargo & Company MN now owns 2,507,835 shares of the real estate investment trust’s stock worth $47,901,000 after buying an additional 690,453 shares during the last quarter. 47.90% of the stock is owned by institutional investors and hedge funds.
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 December 31, 2016, the Company owned 235 hotels with an aggregate of 30,073 rooms located in urban, suburban and developing markets throughout 33 states.
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