Apple Hospitality REIT (NYSE:APLE) Reaches New 12-Month High at $16.57

Apple Hospitality REIT, Inc. (NYSE:APLE) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $16.57 and last traded at $16.57, with a volume of 33906 shares traded. The stock had previously closed at $16.20.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Apple Hospitality REIT from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Monday, June 28th. B. Riley lifted their price target on Apple Hospitality REIT from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 15th. Finally, Barclays raised Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $17.00 to $19.00 in a research report on Wednesday, September 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Apple Hospitality REIT has an average rating of “Buy” and a consensus price target of $15.80.

The stock has a 50-day simple moving average of $14.92 and a two-hundred day simple moving average of $15.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $3.78 billion, a PE ratio of -30.57 and a beta of 1.32.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Wednesday, August 4th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.10. Apple Hospitality REIT had a negative return on equity of 3.88% and a negative net margin of 17.18%. As a group, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 0.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 18th. Shareholders of record on Thursday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, September 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. Apple Hospitality REIT’s dividend payout ratio is currently 44.44%.

In other news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction on Tuesday, August 10th. The stock was acquired at an average cost of $14.44 per share, for a total transaction of $72,200.00. Following the purchase, the chairman now directly owns 414,989 shares in the company, valued at approximately $5,992,441.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have acquired 5,636 shares of company stock valued at $81,478. Corporate insiders own 7.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in APLE. Vanguard Group Inc. grew its stake in shares of Apple Hospitality REIT by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 30,858,997 shares of the real estate investment trust’s stock valued at $470,908,000 after acquiring an additional 1,141,636 shares during the period. BlackRock Inc. boosted its stake in Apple Hospitality REIT by 29.7% in the 2nd quarter. BlackRock Inc. now owns 20,798,558 shares of the real estate investment trust’s stock worth $317,385,000 after purchasing an additional 4,762,256 shares during the period. Invesco Ltd. boosted its stake in Apple Hospitality REIT by 11.9% in the 2nd quarter. Invesco Ltd. now owns 10,663,946 shares of the real estate investment trust’s stock worth $162,733,000 after purchasing an additional 1,132,906 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Apple Hospitality REIT by 6.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,738,706 shares of the real estate investment trust’s stock worth $133,353,000 after purchasing an additional 556,089 shares during the period. Finally, State Street Corp boosted its stake in Apple Hospitality REIT by 21.2% in the 2nd quarter. State Street Corp now owns 8,283,670 shares of the real estate investment trust’s stock worth $126,491,000 after purchasing an additional 1,449,791 shares during the period. Institutional investors and hedge funds own 77.97% of the company’s stock.

About Apple Hospitality REIT (NYSE:APLE)

Apple Hospitality REIT, Inc is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. It owns hotels located in urban, high-end suburban, and developing markets throughout states, which operates under Marriott, Hilton, or Hyatt brands.

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