Apple Hospitality REIT Inc (APLE) Given Average Recommendation of “Hold” by Brokerages
Shares of Apple Hospitality REIT Inc (NYSE:APLE) have earned an average rating of “Hold” from the eight research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $20.00.
A number of analysts have issued reports on the company. ValuEngine raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. B. Riley raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday, August 8th. Finally, Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd.
In other Apple Hospitality REIT news, insider Glade M. Knight bought 10,000 shares of the stock in a transaction on Monday, August 20th. The shares were purchased at an average price of $17.63 per share, with a total value of $176,300.00. Following the acquisition, the insider now directly owns 10,098,933 shares of the company’s stock, valued at approximately $178,044,188.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Justin G. Knight bought 6,000 shares of the stock in a transaction on Thursday, August 23rd. The stock was acquired at an average cost of $17.65 per share, for a total transaction of $105,900.00. Following the acquisition, the insider now directly owns 1,109,681 shares in the company, valued at $19,585,869.65. The disclosure for this purchase can be found here. Insiders acquired a total of 33,657 shares of company stock worth $588,035 in the last ninety days. Insiders own 6.30% of the company’s stock.
Shares of APLE stock traded down $0.03 during trading on Friday, reaching $16.37. The company had a trading volume of 1,484,548 shares, compared to its average volume of 1,224,280. 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 one year low of $16.33 and a one year high of $20.19. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 1.91 and a beta of 0.64.
Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, August 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.22). Apple Hospitality REIT had a net margin of 13.55% and a return on equity of 4.80%. The company had revenue of $344.70 million during the quarter, compared to the consensus estimate of $347.27 million. During the same period in the previous year, the business posted $0.51 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. On average, analysts forecast that Apple Hospitality REIT will post 1.71 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which was paid on Monday, October 15th. Shareholders of record on Wednesday, October 3rd were issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date of this dividend was Tuesday, October 2nd. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 68.97%.
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 and most diverse portfolios of upscale, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.
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