TheStreet upgraded shares of Apple Hospitality REIT (NYSE:APLE) from a c rating to a b- rating in a research note published on Friday morning.
APLE has been the topic of a number of other reports. Barclays started coverage on shares of Apple Hospitality REIT in a research note on Wednesday, January 31st. They issued an equal weight rating and a $21.00 price objective on the stock. Zacks Investment Research lowered shares of Apple Hospitality REIT from a hold rating to a sell rating in a research note on Wednesday, February 28th. ValuEngine downgraded shares of Apple Hospitality REIT from a buy rating to a hold rating in a research report on Monday, April 2nd. B. Riley set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a hold rating in a research report on Friday, February 23rd. Finally, Robert W. Baird set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a buy rating in a research report on Monday, February 26th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Apple Hospitality REIT currently has an average rating of Hold and a consensus price target of $20.00.
NYSE:APLE opened at $18.62 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.06 and a current ratio of 0.06. Apple Hospitality REIT has a 52 week low of $16.72 and a 52 week high of $20.19. The firm has a market capitalization of $4.24 billion, a PE ratio of 10.70, a PEG ratio of 2.11 and a beta of 0.64.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.21). Apple Hospitality REIT had a net margin of 15.30% and a return on equity of 5.38%. The firm had revenue of $298.40 million during the quarter, compared to the consensus estimate of $299.89 million. During the same period in the prior year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities research analysts forecast that Apple Hospitality REIT will post 1.75 earnings per share for the current year.
The business also recently announced a monthly dividend, which was paid on Tuesday, May 15th. Investors of record on Wednesday, May 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.44%. Apple Hospitality REIT’s payout ratio is presently 68.97%.
In other Apple Hospitality REIT news, insider Glade M. Knight acquired 5,000 shares of the stock in a transaction on Monday, May 14th. The shares were purchased at an average price of $18.52 per share, for a total transaction of $92,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nelson Knight acquired 4,313 shares of the stock in a transaction on Thursday, March 15th. The shares were acquired at an average price of $17.35 per share, for a total transaction of $74,830.55. The disclosure for this purchase can be found here. Insiders have purchased a total of 38,504 shares of company stock worth $665,862 in the last quarter. 6.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB acquired a new position in Apple Hospitality REIT during the first quarter worth $287,000. Royal Bank of Canada raised its holdings in Apple Hospitality REIT by 49.2% during the first quarter. Royal Bank of Canada now owns 482,271 shares of the real estate investment trust’s stock worth $8,473,000 after buying an additional 159,046 shares during the last quarter. Legal & General Group Plc raised its holdings in Apple Hospitality REIT by 7.7% during the first quarter. Legal & General Group Plc now owns 772,430 shares of the real estate investment trust’s stock worth $13,572,000 after buying an additional 55,487 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in Apple Hospitality REIT by 118.0% during the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 421,700 shares of the real estate investment trust’s stock worth $7,409,000 after buying an additional 228,300 shares during the last quarter. Finally, TLP Group LLC raised its holdings in Apple Hospitality REIT by 1,074.4% during the first quarter. TLP Group LLC now owns 12,942 shares of the real estate investment trust’s stock worth $227,000 after buying an additional 11,840 shares during the last quarter. Hedge funds and other institutional investors own 55.83% of the company’s stock.
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 portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states.
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