Insider Buying: Apple Hospitality REIT Inc (NYSE:APLE) Chairman Acquires 105,879 Shares of Stock
Apple Hospitality REIT Inc (NYSE:APLE) Chairman Jirka Rysavy acquired 105,879 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $7.14 per share, with a total value of $755,976.06.
Apple Hospitality REIT stock traded up $0.23 during trading on Monday, hitting $16.35. The company’s stock had a trading volume of 1,200,047 shares, compared to its average volume of 1,172,831. The stock’s fifty day moving average is $15.60 and its 200 day moving average is $16.05. Apple Hospitality REIT Inc has a 1-year low of $13.81 and a 1-year high of $17.80. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.04 and a current ratio of 0.04.
Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. The firm had revenue of $341.12 million for the quarter, compared to analyst estimates of $340.44 million. Apple Hospitality REIT had a return on equity of 5.75% and a net margin of 15.44%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the company earned $0.51 EPS. On average, research analysts anticipate that Apple Hospitality REIT Inc will post 1.65 EPS for the current fiscal year.
APLE has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday. Capital One Financial began coverage on shares of Apple Hospitality REIT in a research note on Tuesday, June 25th. They issued an “equal weight” rating and a $17.00 target price for the company. Finally, Barclays upgraded Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $18.25.
Several hedge funds have recently made changes to their positions in the company. Atria Investments LLC acquired a new position in Apple Hospitality REIT during the 2nd quarter valued at about $203,000. Royal Bank of Canada boosted its position in shares of Apple Hospitality REIT by 11.2% in the 2nd quarter. Royal Bank of Canada now owns 1,292,772 shares of the real estate investment trust’s stock worth $20,504,000 after purchasing an additional 129,698 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Apple Hospitality REIT by 2.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 28,146 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 738 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Apple Hospitality REIT during the second quarter worth $9,845,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Apple Hospitality REIT by 1.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 64,947 shares of the real estate investment trust’s stock valued at $1,030,000 after purchasing an additional 813 shares during the last quarter. Institutional investors and hedge funds own 59.18% of the company’s stock.
About Apple Hospitality REIT
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 30,800 guest rooms located in 88 markets throughout 34 states.
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