Glade M. Knight Buys 5,800 Shares of Apple Hospitality REIT Inc (APLE) Stock
Apple Hospitality REIT Inc (NYSE:APLE) Chairman Glade M. Knight purchased 5,800 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was bought at an average price of $17.10 per share, with a total value of $99,180.00. Following the acquisition, the chairman now owns 10,052,157 shares in the company, valued at $171,891,884.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Apple Hospitality REIT Inc (APLE) traded up $0.07 on Friday, hitting $16.99. The company’s stock had a trading volume of 3,430,000 shares, compared to its average volume of 1,570,000. Apple Hospitality REIT Inc has a one year low of $16.72 and a one year high of $20.19. The firm has a market cap of $3,790.00 and a price-to-earnings ratio of 20.72. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.04 and a current ratio of 0.04.
Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. Apple Hospitality REIT had a return on equity of 5.19% and a net margin of 14.73%. The company had revenue of $289.07 million for the quarter, compared to analyst estimates of $288.75 million. During the same period in the prior year, the company posted $0.37 EPS. Apple Hospitality REIT’s quarterly revenue was up 2.4% on a year-over-year basis. analysts anticipate that Apple Hospitality REIT Inc will post 1.75 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Global X Management Co. LLC raised its position in shares of Apple Hospitality REIT by 21.7% in the 4th quarter. Global X Management Co. LLC now owns 90,763 shares of the real estate investment trust’s stock valued at $1,780,000 after purchasing an additional 16,175 shares in the last quarter. Aperio Group LLC raised its position in shares of Apple Hospitality REIT by 63.0% in the 4th quarter. Aperio Group LLC now owns 200,255 shares of the real estate investment trust’s stock valued at $3,927,000 after purchasing an additional 77,379 shares in the last quarter. American Century Companies Inc. raised its position in shares of Apple Hospitality REIT by 342.0% in the 4th quarter. American Century Companies Inc. now owns 1,271,120 shares of the real estate investment trust’s stock valued at $24,927,000 after purchasing an additional 983,516 shares in the last quarter. Evermay Wealth Management LLC acquired a new position in shares of Apple Hospitality REIT in the 4th quarter valued at approximately $218,000. Finally, Meeder Asset Management Inc. raised its position in shares of Apple Hospitality REIT by 18,851.3% in the 4th quarter. Meeder Asset Management Inc. now owns 50,979 shares of the real estate investment trust’s stock valued at $999,000 after purchasing an additional 50,710 shares in the last quarter. 54.37% of the stock is currently owned by institutional investors.
APLE has been the subject of a number of analyst reports. TheStreet cut Apple Hospitality REIT from a “b” rating to a “c” rating in a report on Thursday, February 8th. Barclays initiated coverage on Apple Hospitality REIT in a report on Wednesday, January 31st. They issued an “equal weight” rating and a $21.00 price target for the company. Zacks Investment Research cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Wednesday. B. Riley set a $20.00 price target on Apple Hospitality REIT and gave the stock a “hold” rating in a report on Friday, February 23rd. Finally, Robert W. Baird set a $20.00 price target on Apple Hospitality REIT and gave the stock a “buy” rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $20.17.
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 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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