Apple Hospitality REIT Inc (APLE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Apple Hospitality REIT Inc (NYSE:APLE) have been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $20.00.

Several brokerages recently commented on APLE. Zacks Investment Research raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. B. Riley set a $20.00 price objective on shares of Apple Hospitality REIT and gave the company a “buy” rating in a research report on Tuesday, November 6th.

In related news, Director Redd Hugh purchased 4,000 shares of the company’s stock in a transaction dated Wednesday, November 14th. The shares were purchased at an average price of $15.96 per share, with a total value of $63,840.00. Following the acquisition, the director now directly owns 86,154 shares in the company, valued at approximately $1,375,017.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction dated Monday, November 12th. The shares were bought at an average cost of $16.22 per share, for a total transaction of $81,100.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 19,624 shares of company stock worth $313,283. Insiders own 6.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Apple Hospitality REIT by 0.9% in the 3rd quarter. BlackRock Inc. now owns 15,932,503 shares of the real estate investment trust’s stock worth $278,660,000 after purchasing an additional 147,617 shares during the period. Northern Trust Corp lifted its stake in shares of Apple Hospitality REIT by 5.2% in the 2nd quarter. Northern Trust Corp now owns 4,478,291 shares of the real estate investment trust’s stock worth $80,073,000 after purchasing an additional 223,357 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Apple Hospitality REIT by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,033 shares of the real estate investment trust’s stock worth $59,472,000 after purchasing an additional 129,108 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Apple Hospitality REIT by 9.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,739,450 shares of the real estate investment trust’s stock worth $48,982,000 after purchasing an additional 244,976 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Apple Hospitality REIT by 47.9% in the 3rd quarter. Renaissance Technologies LLC now owns 2,420,300 shares of the real estate investment trust’s stock worth $42,331,000 after purchasing an additional 783,900 shares during the period. 56.22% of the stock is currently owned by hedge funds and other institutional investors.

APLE stock traded down $0.24 during trading on Monday, hitting $15.64. 2,109,289 shares of the stock traded hands, compared to its average volume of 1,553,764. Apple Hospitality REIT has a 1 year low of $15.47 and a 1 year high of $20.19. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 1.87 and a beta of 0.68.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.21). Apple Hospitality REIT had a net margin of 13.42% and a return on equity of 4.77%. The firm had revenue of $332.20 million for the quarter, compared to analysts’ expectations of $340.17 million. During the same period last year, the company posted $0.48 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Apple Hospitality REIT will post 1.7 EPS for the current year.

The business also recently declared a monthly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.67%. The ex-dividend date of this dividend is Friday, November 30th. Apple Hospitality REIT’s payout ratio is presently 68.97%.

Apple Hospitality REIT Company Profile

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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