Apple Hospitality REIT, Inc. (NYSE:APLE) Downgraded to Strong Sell at BidaskClub
BidaskClub cut shares of Apple Hospitality REIT, Inc. (NYSE:APLE) from a sell rating to a strong sell rating in a research report report published on Friday.
A number of other brokerages also recently commented on APLE. FBR & Co reissued a hold rating on shares of Apple Hospitality REIT in a research report on Saturday, May 6th. Zacks Investment Research raised Apple Hospitality REIT from a sell rating to a hold rating in a research report on Thursday, April 6th. Robert W. Baird reissued an outperform rating and set a $21.00 price objective 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 for the company. Finally, Canaccord Genuity reissued a hold rating and set a $20.00 price objective on shares of Apple Hospitality REIT in a research report on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Apple Hospitality REIT currently has a consensus rating of Hold and a consensus price target of $19.40.
Shares of Apple Hospitality REIT (NYSE:APLE) opened at 18.46 on Friday. Apple Hospitality REIT has a 52-week low of $17.32 and a 52-week high of $20.68. The firm’s 50 day moving average is $18.78 and its 200 day moving average is $19.17. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 25.96 and a beta of 0.61.
Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Thursday, May 4th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by $0.01. Apple Hospitality REIT had a net margin of 13.01% and a return on equity of 4.38%. The firm had revenue of $292.90 million during the quarter, compared to analyst estimates of $291.05 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s revenue was up 30.5% compared to the same quarter last year. Equities analysts expect that Apple Hospitality REIT will post $0.97 earnings per share for the current year.
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The firm also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Thursday, August 3rd will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date of this dividend is Tuesday, August 1st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 166.67%.
In other Apple Hospitality REIT news, insider Justin G. Knight purchased 5,400 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was purchased at an average cost of $18.64 per share, with a total value of $100,656.00. Following the completion of the acquisition, the insider now directly owns 1,005,274 shares of the company’s stock, valued at approximately $18,738,307.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Glade M. Knight acquired 3,000 shares of Apple Hospitality REIT stock in a transaction on Friday, May 12th. The stock was purchased at an average price of $18.51 per share, with a total value of $55,530.00. Following the purchase, the insider now owns 10,015,957 shares of the company’s stock, valued at approximately $185,395,364.07. The disclosure for this purchase can be found here. Insiders purchased 13,800 shares of company stock valued at $258,732 over the last ninety days. 6.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of APLE. Public Employees Retirement Association of Colorado boosted its stake in shares of Apple Hospitality REIT by 26.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 1,393 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of Apple Hospitality REIT during the first quarter worth approximately $125,000. RMR Advisors LLC purchased a new stake in shares of Apple Hospitality REIT during the first quarter worth approximately $191,000. Bruderman Asset Management LLC boosted its stake in shares of Apple Hospitality REIT by 3.7% in the first quarter. Bruderman Asset Management LLC now owns 10,361 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 372 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Apple Hospitality REIT during the first quarter worth approximately $208,000. Institutional investors own 47.66% of the company’s stock.
About Apple Hospitality REIT
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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