Barclays upgraded shares of Apple Hospitality REIT (NYSE:APLE) from an equal weight rating to an overweight rating in a research report released on Monday morning, BenzingaRatingsTable reports. Barclays currently has $18.00 price objective on the real estate investment trust’s stock.
A number of other equities analysts have also issued reports on the stock. Capital One Financial started coverage on shares of Apple Hospitality REIT in a research report on Tuesday, June 25th. They issued an equal weight rating and a $17.00 target price for the company. ValuEngine upgraded shares of Apple Hospitality REIT from a sell rating to a hold rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research lowered shares of Apple Hospitality REIT from a hold rating to a sell rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $18.25.
APLE stock opened at $15.47 on Monday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.05. Apple Hospitality REIT has a fifty-two week low of $13.81 and a fifty-two week high of $17.99. The firm’s 50-day simple moving average is $15.60 and its 200 day simple moving average is $16.09. The stock has a market cap of $3.50 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 1.89 and a beta of 0.82.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. Apple Hospitality REIT had a net margin of 15.44% and a return on equity of 5.75%. The business had revenue of $341.12 million for the quarter, compared to analysts’ expectations of $340.44 million. During the same quarter last year, the company earned $0.51 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities analysts forecast that Apple Hospitality REIT will post 1.65 EPS for the current fiscal year.
The business also recently announced a monthly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, August 2nd were given a $0.10 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 7.76%. Apple Hospitality REIT’s dividend payout ratio is presently 69.77%.
In other Apple Hospitality REIT news, insider Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $15.39 per share, for a total transaction of $76,950.00. Following the transaction, the insider now owns 10,133,812 shares in the company, valued at approximately $155,959,366.68. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Redd Hugh acquired 2,000 shares of Apple Hospitality REIT stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.55 per share, with a total value of $31,100.00. Following the transaction, the director now owns 95,154 shares in the company, valued at approximately $1,479,644.70. The disclosure for this purchase can be found here. Insiders purchased a total of 9,000 shares of company stock valued at $139,810 in the last quarter. 6.50% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Penserra Capital Management LLC bought a new position in shares of Apple Hospitality REIT during the 1st quarter valued at about $37,000. Point72 Hong Kong Ltd boosted its holdings in shares of Apple Hospitality REIT by 159.6% in the second quarter. Point72 Hong Kong Ltd now owns 2,355 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 1,448 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Apple Hospitality REIT by 113.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,386 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 1,267 shares during the period. AGF Investments LLC boosted its holdings in shares of Apple Hospitality REIT by 72.9% in the second quarter. AGF Investments LLC now owns 2,471 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 1,042 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Apple Hospitality REIT by 353.3% in the first quarter. Quadrant Capital Group LLC now owns 3,400 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 2,650 shares during the period. Institutional investors own 56.90% of the company’s stock.
Apple Hospitality REIT Company Profile
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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