Apple Hospitality REIT, Inc. (APLE) Insider Buys $299,540.00 in Stock
Apple Hospitality REIT, Inc. (NYSE:APLE) insider Justin G. Knight purchased 17,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $17.62 per share, for a total transaction of $299,540.00. Following the completion of the purchase, the insider now owns 1,005,274 shares in the company, valued at $17,712,927.88. The transaction was disclosed in a filing with the SEC, which is available at this link.
Apple Hospitality REIT, Inc. (NYSE:APLE) traded up 1.65% during trading on Friday, reaching $17.88. The company had a trading volume of 2,966,370 shares. The stock has a 50 day moving average price of $18.49 and a 200 day moving average price of $19.07. The firm has a market capitalization of $3.99 billion, a P/E ratio of 21.70 and a beta of 0.60. Apple Hospitality REIT, Inc. has a 52 week low of $17.32 and a 52 week high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by $0.01. The company had revenue of $331.70 million for the quarter, compared to analyst estimates of $335.94 million. Apple Hospitality REIT had a return on equity of 5.05% and a net margin of 14.97%. Apple Hospitality REIT’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. Analysts predict that Apple Hospitality REIT, Inc. will post $0.98 earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Thursday, August 3rd will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.71%. The ex-dividend date of this dividend is Tuesday, August 1st. Apple Hospitality REIT’s payout ratio is currently 150.00%.
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Several large investors have recently bought and sold shares of the company. TLP Group LLC purchased a new stake in Apple Hospitality REIT during the second quarter valued at about $246,000. Advisor Group Inc. raised its stake in Apple Hospitality REIT by 18.2% in the second quarter. Advisor Group Inc. now owns 11,040 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 1,698 shares during the last quarter. Cbre Clarion Securities LLC purchased a new stake in Apple Hospitality REIT during the second quarter valued at about $276,000. Quantbot Technologies LP purchased a new stake in Apple Hospitality REIT during the second quarter valued at about $310,000. Finally, California Public Employees Retirement System raised its stake in Apple Hospitality REIT by 10.3% in the second quarter. California Public Employees Retirement System now owns 386,100 shares of the real estate investment trust’s stock valued at $7,224,000 after buying an additional 36,000 shares during the last quarter. 47.64% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently issued reports on APLE. BidaskClub upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. FBR & Co reiterated a “hold” rating on shares of Apple Hospitality REIT in a research report on Saturday, May 6th. Robert W. Baird reiterated an “outperform” rating and set a $21.00 target price on shares of Apple Hospitality REIT in a research report on Tuesday, July 4th. Wells Fargo & Company began coverage on Apple Hospitality REIT in a research report on Wednesday, May 3rd. They set a “market perform” rating on the stock. Finally, Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus target price of $19.20.
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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