Stock Traders Purchase High Volume of Apple Hospitality REIT Call Options (NYSE:APLE)

Apple Hospitality REIT, Inc. (NYSE:APLE) was the recipient of some unusual options trading on Monday. Stock traders acquired 3,046 call options on the stock. This is an increase of 1,454% compared to the average daily volume of 196 call options.

Apple Hospitality REIT Trading Down 0.5%

NYSE:APLE opened at $16.48 on Wednesday. The firm has a market capitalization of $3.89 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 3.18 and a beta of 0.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73. Apple Hospitality REIT has a 12 month low of $10.85 and a 12 month high of $17.28. The business’s 50-day moving average is $16.02 and its two-hundred day moving average is $15.25.

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

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Apple Hospitality REIT’s payout ratio is presently 129.73%.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of large investors have recently added to or reduced their stakes in APLE. Palouse Capital Management Inc. raised its holdings in Apple Hospitality REIT by 21.1% in the 2nd quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 750 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Apple Hospitality REIT by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock valued at $2,764,000 after acquiring an additional 1,068 shares during the period. GAMMA Investing LLC boosted its holdings in Apple Hospitality REIT by 15.5% during the second quarter. GAMMA Investing LLC now owns 11,552 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 1,548 shares during the period. Cetera Investment Advisers grew its position in shares of Apple Hospitality REIT by 3.0% in the first quarter. Cetera Investment Advisers now owns 54,066 shares of the real estate investment trust’s stock valued at $622,000 after purchasing an additional 1,568 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Apple Hospitality REIT by 69.7% in the second quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 1,569 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APLE has been the subject of several recent research reports. LADENBURG THALM/SH SH raised their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Zacks Research lowered shares of Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. JPMorgan Chase & Co. raised their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company boosted their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Hold” and an average price target of $17.06.

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.