Apple Hospitality REIT Sees Unusually High Options Volume (NYSE:APLE)

Apple Hospitality REIT, Inc. (NYSE:APLE) saw some unusual options trading activity on Monday. Stock investors bought 3,046 call options on the stock. This represents an increase of 1,454% compared to the typical daily volume of 196 call options.

Hedge Funds Weigh In On Apple Hospitality REIT

Several large investors have recently bought and sold shares of the business. Compass Financial Management LLC acquired a new stake in Apple Hospitality REIT during the 2nd quarter worth approximately $56,000. Nykredit A S purchased a new stake in Apple Hospitality REIT during the 2nd quarter worth approximately $62,000. Allworth Financial LP lifted its position in shares of Apple Hospitality REIT by 69.7% during the second quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 1,569 shares during the last quarter. Inspire Investing LLC lifted its holdings in Apple Hospitality REIT by 2,965.1% during the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 3,736 shares during the last quarter. Finally, Palouse Capital Management Inc. increased its stake in Apple Hospitality REIT by 21.1% during the second quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Analyst Upgrades and Downgrades

APLE has been the subject of a number of research analyst reports. Bank of America lifted their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Apple Hospitality REIT in a report on Friday, August 21st. JPMorgan Chase & Co. upped their price objective on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Compass Point upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their target price for the company from $17.50 to $18.50 in a research note on Friday, August 7th. Finally, LADENBURG THALM/SH SH raised their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.06.

Apple Hospitality REIT Price Performance

Shares of APLE stock traded up $0.04 during trading hours on Tuesday, hitting $16.27. 410,320 shares of the company’s stock were exchanged, compared to its average volume of 2,889,896. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $16.02 and a two-hundred day moving average of $15.22. The firm has a market cap of $3.84 billion, a P/E ratio of 21.99, a P/E/G ratio of 3.20 and a beta of 0.92. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $17.28.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $402.55 million during the quarter, compared to the consensus estimate of $391.88 million. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. Sell-side analysts forecast that Apple Hospitality REIT will post 1.60 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.9%. Apple Hospitality REIT’s payout ratio is 129.73%.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a self-administered real estate investment trust focused on owning and operating upscale, select-service hotels. The company’s properties primarily operate under well-known lodging brands affiliated with Marriott International, Hilton Worldwide and Hyatt Hotels Corporation.

Apple Hospitality’s portfolio includes hotels serving business and leisure travelers in a range of urban, suburban and destination markets. Its properties are located across the United States, with a focus on geographically diverse markets and hotels that offer amenities such as guest rooms, meeting spaces, fitness facilities, swimming pools and limited food-and-beverage services.

The company was formed in 2007 and became publicly traded in 2015.