Apple Hospitality REIT, Inc. (APLE) Upgraded to Sell by BidaskClub
BidaskClub upgraded shares of Apple Hospitality REIT, Inc. (NYSE:APLE) from a strong sell rating to a sell rating in a report published on Thursday.
APLE has been the topic of a number of other research reports. Robert W. Baird reiterated an outperform rating and issued a $21.00 price target on shares of Apple Hospitality REIT in a report on Tuesday, July 4th. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a sell rating to a hold rating in a report on Thursday, June 1st. Canaccord Genuity reiterated a hold rating and issued a $20.00 price target on shares of Apple Hospitality REIT in a report on Monday, May 8th. Wells Fargo & Company initiated coverage on shares of Apple Hospitality REIT in a report on Wednesday, May 3rd. They issued a market perform rating on the stock. Finally, FBR & Co reiterated a hold rating on shares of Apple Hospitality REIT in a report on Saturday, May 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Apple Hospitality REIT currently has an average rating of Hold and an average target price of $19.40.
Apple Hospitality REIT (APLE) opened at 18.18 on Thursday. The firm has a market capitalization of $4.06 billion, a PE ratio of 25.57 and a beta of 0.60. Apple Hospitality REIT has a 1-year low of $17.32 and a 1-year high of $20.68. The firm’s 50-day moving average price is $18.77 and its 200-day moving average price is $19.15.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.01. The company had revenue of $292.90 million during the quarter, compared to analyst estimates of $291.05 million. Apple Hospitality REIT had a net margin of 13.01% and a return on equity of 4.38%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 EPS. On average, equities research analysts predict that Apple Hospitality REIT will post $0.97 EPS for the current fiscal year.
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The firm also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Thursday, August 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 6.60%. Apple Hospitality REIT’s payout ratio is 166.67%.
In other Apple Hospitality REIT news, insider Glade M. Knight bought 3,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average price of $18.51 per share, for a total transaction of $55,530.00. Following the acquisition, the insider now owns 10,015,957 shares of the company’s stock, valued at approximately $185,395,364.07. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Glade M. Knight bought 5,400 shares of Apple Hospitality REIT stock in a transaction that occurred on Thursday, May 25th. The shares were acquired at an average price of $18.99 per share, for a total transaction of $102,546.00. Following the acquisition, the insider now directly owns 10,021,357 shares in the company, valued at approximately $190,305,569.43. The disclosure for this purchase can be found here. Insiders have purchased a total of 13,800 shares of company stock worth $258,732 in the last 90 days. Company insiders own 6.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System raised its position in Apple Hospitality REIT by 7.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 176,786 shares of the real estate investment trust’s stock valued at $3,308,000 after buying an additional 12,910 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Apple Hospitality REIT during the second quarter valued at $2,145,000. Legal & General Group Plc raised its position in Apple Hospitality REIT by 4.3% in the second quarter. Legal & General Group Plc now owns 604,304 shares of the real estate investment trust’s stock valued at $11,307,000 after buying an additional 24,649 shares during the last quarter. IMS Capital Management acquired a new position in Apple Hospitality REIT during the second quarter valued at $140,000. Finally, Bank of New York Mellon Corp raised its position in Apple Hospitality REIT by 8.5% in the second quarter. Bank of New York Mellon Corp now owns 1,386,728 shares of the real estate investment trust’s stock valued at $25,945,000 after buying an additional 108,410 shares during the last quarter. Institutional investors and hedge funds own 47.66% of the company’s stock.
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 December 31, 2016, the Company owned 235 hotels with an aggregate of 30,073 rooms located in urban, suburban and developing markets throughout 33 states.
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