Trade Report: Today, Apple Hospitality REIT Inc. (APLE) Upgraded to “Outperform” at Robert W. Baird

Today, Apple Hospitality REIT Inc. (APLE) Upgraded to “Outperform” at Robert W. Baird

Apple Hospitality REIT Inc. (NYSE:APLE) was upgraded by research analysts at Robert W. Baird to an “outperform” rating in a report released on Tuesday.

Several other research firms also recently weighed in on APLE. Zacks Investment Research downgraded Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Ladenburg Thalmann reiterated a “sell” rating and set a $13.00 price target on shares of Apple Hospitality REIT in a research note on Sunday, September 4th. Canaccord Genuity reiterated a “buy” rating and set a $22.00 price target on shares of Apple Hospitality REIT in a research note on Monday, November 7th. Finally, FBR & Co reiterated a “hold” rating and set a $20.00 price target on shares of Apple Hospitality REIT in a research note on Wednesday, November 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.20.

Apple Hospitality REIT (NYSE:APLE) opened at 18.26 on Tuesday. The firm has a market cap of $4.08 billion, a P/E ratio of 38.20 and a beta of 0.63. The firm’s 50-day moving average price is $18.02 and its 200 day moving average price is $18.78. Apple Hospitality REIT has a 52 week low of $16.35 and a 52 week high of $20.97.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The company earned $276.50 million during the quarter, compared to the consensus estimate of $16.75 million. Apple Hospitality REIT had a return on equity of 2.98% and a net margin of 8.78%. The business’s revenue was up 14.9% compared to the same quarter last year. Equities analysts forecast that Apple Hospitality REIT will post $1.75 earnings per share for the current fiscal year.

The business also recently announced a monthly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, December 2nd will be paid a $0.10 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $1.20 annualized dividend and a yield of 6.54%. Apple Hospitality REIT’s dividend payout ratio is currently 250.01%.

In other Apple Hospitality REIT news, insider Glade M. Knight purchased 2,825 shares of the stock in a transaction on Friday, November 11th. The shares were purchased at an average price of $17.55 per share, with a total value of $49,578.75. Following the acquisition, the insider now directly owns 10,001,882 shares in the company, valued at approximately $175,533,029.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Redd Hugh purchased 3,000 shares of the stock in a transaction on Friday, November 11th. The stock was acquired at an average cost of $17.53 per share, for a total transaction of $52,590.00. Following the acquisition, the director now owns 36,323 shares in the company, valued at $636,742.19. The disclosure for this purchase can be found here. 6.40% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Amica Mutual Insurance Co. acquired a new stake in Apple Hospitality REIT during the second quarter valued at $245,000. Societe Generale acquired a new stake in Apple Hospitality REIT during the second quarter valued at $949,000. Amica Pension Fund Board of Trustees acquired a new stake in Apple Hospitality REIT during the second quarter valued at $192,000. Mizuho Trust & Banking Co. Ltd. boosted its stake in Apple Hospitality REIT by 3.6% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 30,085 shares of the company’s stock valued at $566,000 after buying an additional 1,058 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Apple Hospitality REIT by 4.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,624 shares of the company’s stock valued at $482,000 after buying an additional 1,000 shares during the last quarter. 40.29% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Company Profile

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