Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been given a consensus rating of “Buy” by the six brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $15.80.
Several brokerages have recently weighed in on APLE. B. Riley lifted their price objective on Apple Hospitality REIT from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, June 15th. Barclays raised Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $19.00 in a research note on Wednesday, September 1st. Finally, Zacks Investment Research raised Apple Hospitality REIT from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Monday, June 28th.
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In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction on Tuesday, August 10th. The stock was purchased at an average price of $14.44 per share, for a total transaction of $72,200.00. Following the transaction, the chairman now owns 414,989 shares in the company, valued at approximately $5,992,441.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 5,636 shares of company stock worth $81,478. 7.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of APLE. IFP Advisors Inc raised its position in shares of Apple Hospitality REIT by 719.4% during the second quarter. IFP Advisors Inc now owns 2,278 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 2,000 shares during the last quarter. FMR LLC raised its position in shares of Apple Hospitality REIT by 70.7% during the second quarter. FMR LLC now owns 2,613 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,082 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Apple Hospitality REIT during the second quarter worth $61,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Apple Hospitality REIT by 29.5% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,442 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 1,467 shares during the last quarter. Finally, Ayalon Holdings Ltd. raised its position in shares of Apple Hospitality REIT by 85.7% during the second quarter. Ayalon Holdings Ltd. now owns 6,723 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 3,102 shares during the last quarter. Hedge funds and other institutional investors own 77.97% of the company’s stock.
Shares of NYSE:APLE traded down $0.19 during trading on Thursday, hitting $14.73. 1,698,554 shares of the stock were exchanged, compared to its average volume of 1,987,530. Apple Hospitality REIT has a 1-year low of $8.90 and a 1-year high of $16.57. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -27.79 and a beta of 1.32. The company’s fifty day simple moving average is $14.81 and its 200-day simple moving average is $15.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.72 and a current ratio of 0.72.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Wednesday, August 4th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.10. Apple Hospitality REIT had a negative return on equity of 3.88% and a negative net margin of 17.18%. On average, research analysts forecast that Apple Hospitality REIT will post 0.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Wednesday, June 30th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Tuesday, June 29th. Apple Hospitality REIT’s dividend payout ratio is 44.44%.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. It owns hotels located in urban, high-end suburban, and developing markets throughout states, which operates under Marriott, Hilton, or Hyatt brands.
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