Insider Buying: Apple Hospitality REIT (NYSE:APLE) Director Acquires $23,880.00 in Stock

Apple Hospitality REIT, Inc. (NYSE:APLE) Director Howard Woolley purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were purchased at an average cost of $11.94 per share, with a total value of $23,880.00. Following the completion of the purchase, the director directly owned 30,930 shares in the company, valued at approximately $369,304.20. This represents a 6.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Apple Hospitality REIT Trading Up 0.7%

Shares of Apple Hospitality REIT stock opened at $11.74 on Friday. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 15.65 and a beta of 1.04. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50. The company’s fifty day simple moving average is $11.87 and its 200-day simple moving average is $11.99.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $373.88 million during the quarter, compared to the consensus estimate of $371.94 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. As a group, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 8.2%. Apple Hospitality REIT’s payout ratio is currently 131.51%.

Analyst Ratings Changes

A number of research firms have issued reports on APLE. Bank of America downgraded shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price objective for the company. in a report on Tuesday, November 4th. Cantor Fitzgerald initiated coverage on shares of Apple Hospitality REIT in a research report on Wednesday, October 1st. They set an “overweight” rating and a $14.00 price objective for the company. Weiss Ratings restated a “hold (c-)” rating on shares of Apple Hospitality REIT in a report on Thursday, October 30th. Robert W. Baird cut their price target on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Finally, Wells Fargo & Company upgraded shares of Apple Hospitality REIT to a “hold” rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.70.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. raised its holdings in Apple Hospitality REIT by 12,230.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 2,446 shares during the last quarter. NewEdge Advisors LLC raised its stake in Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,814 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Apple Hospitality REIT by 444.4% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,280 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,640 shares during the period. Finally, Cloud Capital Management LLC acquired a new stake in shares of Apple Hospitality REIT in the 3rd quarter valued at approximately $34,000. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.