Apple Hospitality REIT, Inc. (APLE) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $20.00.
APLE has been the topic of a number of research analyst reports. BidaskClub lowered shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Canaccord Genuity reaffirmed a “hold” rating and set a $19.00 price objective (down from $20.00) on shares of Apple Hospitality REIT in a report on Friday, August 11th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $21.00 price objective on shares of Apple Hospitality REIT in a report on Tuesday, July 4th.
Apple Hospitality REIT (NYSE APLE) opened at 18.77 on Wednesday. The company has a market capitalization of $4.19 billion, a PE ratio of 22.78 and a beta of 0.61. The stock has a 50 day moving average price of $18.38 and a 200-day moving average price of $18.67. Apple Hospitality REIT has a 52 week low of $17.32 and a 52 week high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The company had revenue of $331.70 million for the quarter, compared to the consensus estimate of $335.94 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. On average, equities analysts predict that Apple Hospitality REIT will post $1.03 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 3rd. This represents a $1.20 annualized dividend and a dividend yield of 6.39%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 150.00%.
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In other Apple Hospitality REIT news, insider Justin G. Knight bought 17,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $17.62 per share, for a total transaction of $299,540.00. Following the transaction, the insider now directly owns 1,005,274 shares in the company, valued at $17,712,927.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Redd Hugh bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was acquired at an average price of $17.83 per share, for a total transaction of $89,150.00. Following the transaction, the director now owns 61,495 shares in the company, valued at $1,096,455.85. The disclosure for this purchase can be found here. Insiders purchased a total of 45,000 shares of company stock valued at $794,950 in the last 90 days. 6.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of APLE. William Blair Investment Management LLC purchased a new stake in Apple Hospitality REIT during the second quarter valued at about $2,145,000. Rafferty Asset Management LLC bought a new position in shares of Apple Hospitality REIT during the first quarter valued at about $569,000. BlackRock Inc. grew its stake in shares of Apple Hospitality REIT by 3,420.4% during the first quarter. BlackRock Inc. now owns 11,994,624 shares of the real estate investment trust’s stock valued at $229,099,000 after buying an additional 11,653,910 shares during the last quarter. Paragon Capital Management Ltd bought a new position in shares of Apple Hospitality REIT during the second quarter valued at about $234,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Apple Hospitality REIT by 155.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,540,891 shares of the real estate investment trust’s stock valued at $48,531,000 after buying an additional 1,547,960 shares during the last quarter. 49.18% of the stock is owned by institutional investors and hedge funds.
Apple Hospitality REIT Company Profile
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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