Apple Hospitality REIT Inc (NYSE:APLE) Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $16.26 per share, with a total value of $81,300.00. Following the completion of the purchase, the chairman now directly owns 10,138,812 shares in the company, valued at approximately $164,857,083.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of APLE stock traded down $0.04 on Friday, reaching $16.37. 957,334 shares of the company’s stock were exchanged, compared to its average volume of 1,180,834. Apple Hospitality REIT Inc has a 52 week low of $13.81 and a 52 week high of $16.90. The company has a current ratio of 0.38, a quick ratio of 0.04 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $3.73 billion, a PE ratio of 9.52, a P/E/G ratio of 2.01 and a beta of 0.80. The company’s fifty day simple moving average is $16.34 and its 200 day simple moving average is $16.01.
Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.24). Apple Hospitality REIT had a return on equity of 5.37% and a net margin of 14.20%. The business had revenue of $331.72 million for the quarter, compared to the consensus estimate of $328.85 million. During the same period in the prior year, the business posted $0.47 earnings per share. Apple Hospitality REIT’s revenue was down .1% on a year-over-year basis. As a group, sell-side analysts predict that Apple Hospitality REIT Inc will post 1.65 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Monday, November 18th. Investors of record on Monday, November 4th will be paid a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date is Friday, November 1st. Apple Hospitality REIT’s dividend payout ratio is currently 69.77%.
A number of equities research analysts recently issued reports on APLE shares. Barclays raised Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, August 12th. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Co raised their price target on Apple Hospitality REIT from $15.00 to $15.50 and gave the stock a “market perform” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.13.
Several hedge funds have recently modified their holdings of APLE. Commonwealth Equity Services LLC raised its position in Apple Hospitality REIT by 63.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 55,015 shares of the real estate investment trust’s stock valued at $872,000 after purchasing an additional 21,334 shares in the last quarter. First Trust Advisors LP raised its position in Apple Hospitality REIT by 16.6% during the 2nd quarter. First Trust Advisors LP now owns 964,097 shares of the real estate investment trust’s stock valued at $15,291,000 after purchasing an additional 137,223 shares in the last quarter. National Asset Management Inc. raised its position in Apple Hospitality REIT by 11.5% during the 2nd quarter. National Asset Management Inc. now owns 42,487 shares of the real estate investment trust’s stock valued at $674,000 after purchasing an additional 4,369 shares in the last quarter. Schroder Investment Management Group raised its position in Apple Hospitality REIT by 175.0% during the 2nd quarter. Schroder Investment Management Group now owns 4,771,948 shares of the real estate investment trust’s stock valued at $75,683,000 after purchasing an additional 3,036,672 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Apple Hospitality REIT by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,246,620 shares of the real estate investment trust’s stock valued at $51,492,000 after purchasing an additional 31,274 shares in the last quarter. 59.19% of the stock is owned by hedge funds and other institutional investors.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.
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