Apple Hospitality REIT (NYSE:APLE) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Apple Hospitality REIT (NYSE:APLE) from a hold rating to a sell rating in a research report released on Monday.

Other analysts also recently issued reports about the stock. Oppenheimer reiterated an “outperform” rating and issued a $17.00 price objective on shares of Apple Hospitality REIT in a report on Friday, October 4th. Wells Fargo & Company decreased their target price on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.25.

Apple Hospitality REIT Trading Up 0.5 %

APLE opened at $15.26 on Monday. The stock has a market capitalization of $3.70 billion, a P/E ratio of 17.73 and a beta of 1.12. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Apple Hospitality REIT has a 12 month low of $13.60 and a 12 month high of $17.90. The firm’s fifty day simple moving average is $14.71 and its 200 day simple moving average is $14.63.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.13). The firm had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same period in the prior year, the business earned $0.49 EPS. As a group, research analysts anticipate that Apple Hospitality REIT will post 1.61 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date is Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio is currently 111.63%.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $14.04 per share, with a total value of $70,200.00. Following the transaction, the chairman now directly owns 636,990 shares in the company, valued at approximately $8,943,339.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

A number of hedge funds have recently made changes to their positions in the business. Fortis Group Advisors LLC raised its stake in Apple Hospitality REIT by 45.6% in the 1st quarter. Fortis Group Advisors LLC now owns 4,349 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 1,363 shares during the period. BNP Paribas Financial Markets raised its position in shares of Apple Hospitality REIT by 27.2% in the first quarter. BNP Paribas Financial Markets now owns 108,191 shares of the real estate investment trust’s stock valued at $1,772,000 after purchasing an additional 23,127 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Apple Hospitality REIT by 6.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 69,089 shares of the real estate investment trust’s stock worth $1,132,000 after buying an additional 4,430 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Apple Hospitality REIT during the 1st quarter worth about $135,000. Finally, Texas Permanent School Fund Corp grew its stake in Apple Hospitality REIT by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 186,232 shares of the real estate investment trust’s stock valued at $3,050,000 after buying an additional 2,436 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

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.