Apple Hospitality REIT (APLE) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Apple Hospitality REIT (NYSE:APLE) from a sell rating to a hold rating in a research report report published on Wednesday morning.
According to Zacks, “Apple Hospitality REIT, Inc. is a real estate investment trust. Its portfolio consists of hotels, guest rooms and resorts. The company operates primarily in the United States. Apple Hospitality REIT, Inc. is headquarted in Richmond, VA. “
Separately, B. Riley set a $20.00 target price on Apple Hospitality REIT and gave the stock a buy rating in a research report on Tuesday, November 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Apple Hospitality REIT has a consensus rating of Hold and a consensus target price of $20.25.
Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 5th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.21). The firm had revenue of $332.20 million during the quarter, compared to analysts’ expectations of $340.17 million. Apple Hospitality REIT had a return on equity of 4.77% and a net margin of 13.42%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business posted $0.48 earnings per share. As a group, analysts predict that Apple Hospitality REIT will post 1.7 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a $0.10 dividend. The ex-dividend date is Friday, November 30th. This represents a $1.20 annualized dividend and a yield of 7.64%. Apple Hospitality REIT’s dividend payout ratio is currently 68.97%.
In related news, insider Bryan Peery purchased 5,000 shares of the stock in a transaction that occurred on Thursday, December 6th. The stock was purchased at an average cost of $15.50 per share, for a total transaction of $77,500.00. Following the acquisition, the insider now owns 335,018 shares in the company, valued at $5,192,779. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Redd Hugh purchased 3,000 shares of the stock in a transaction that occurred on Monday, November 12th. The stock was bought at an average price of $16.18 per share, with a total value of $48,540.00. Following the completion of the acquisition, the director now owns 86,154 shares in the company, valued at approximately $1,393,971.72. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 24,624 shares of company stock valued at $390,783. 6.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in APLE. Meadow Creek Investment Management LLC grew its stake in shares of Apple Hospitality REIT by 597.5% during the second quarter. Meadow Creek Investment Management LLC now owns 84,256 shares of the real estate investment trust’s stock valued at $1,506,000 after acquiring an additional 72,176 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of Apple Hospitality REIT during the third quarter valued at about $280,000. US Bancorp DE grew its stake in shares of Apple Hospitality REIT by 98.9% during the second quarter. US Bancorp DE now owns 9,872 shares of the real estate investment trust’s stock valued at $177,000 after acquiring an additional 4,908 shares in the last quarter. Northern Trust Corp grew its stake in shares of Apple Hospitality REIT by 5.2% during the second quarter. Northern Trust Corp now owns 4,478,291 shares of the real estate investment trust’s stock valued at $80,073,000 after acquiring an additional 223,357 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Apple Hospitality REIT by 13.4% during the second quarter. Sei Investments Co. now owns 169,954 shares of the real estate investment trust’s stock valued at $3,039,000 after acquiring an additional 20,137 shares in the last quarter. Hedge funds and other institutional investors own 56.22% of the company’s stock.
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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