Apple Hospitality REIT (NYSE:APLE) Cut to Sell at StockNews.com

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

A number of other equities analysts have also recently issued reports on APLE. Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Oppenheimer restated an “outperform” rating and set a $17.00 price target on shares of Apple Hospitality REIT in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.25.

Apple Hospitality REIT Stock Up 0.5 %

NYSE APLE opened at $15.26 on Monday. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $17.90. The stock has a market cap of $3.70 billion, a PE ratio of 17.73 and a beta of 1.12. The firm has a 50-day simple moving average of $14.71 and a 200 day simple moving average of $14.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). The firm had revenue of $390.08 million during the quarter, compared to the consensus estimate of $388.82 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same quarter in the prior year, the business posted $0.49 EPS. On average, research analysts forecast that Apple Hospitality REIT will post 1.61 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.08 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.29%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 111.63%.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the acquisition, the chairman now owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Several large investors have recently bought and sold shares of APLE. GAMMA Investing LLC grew its position in shares of Apple Hospitality REIT by 40.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 780 shares during the period. Amalgamated Bank grew its holdings in Apple Hospitality REIT by 1.2% during the second quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock valued at $996,000 after purchasing an additional 813 shares during the period. First Trust Direct Indexing L.P. grew its holdings in Apple Hospitality REIT by 6.0% during the third quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust’s stock valued at $241,000 after purchasing an additional 921 shares during the period. Ellis Investment Partners LLC increased its stake in Apple Hospitality REIT by 4.6% in the third quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust’s stock valued at $318,000 after purchasing an additional 948 shares in the last quarter. Finally, Inspire Advisors LLC raised its holdings in Apple Hospitality REIT by 8.2% in the third quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 1,008 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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, 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.