Zacks Investment Research Lowers Apple Hospitality REIT (APLE) to Hold

Zacks Investment Research lowered shares of Apple Hospitality REIT (NYSE:APLE) from a buy rating to a hold rating in a research note published on Monday morning.

According to Zacks, “Apple Hospitality REIT, Inc. is a real estate investment trust. Its portfolio consists of hotels, guest rooms and resorts. The company operates primarily in the United States. Apple Hospitality REIT, Inc. is headquarted in Richmond, VA. “

Several other brokerages have also recently weighed in on APLE. KeyCorp started coverage on Apple Hospitality REIT in a report on Friday, January 12th. They set a sector weight rating for the company. BidaskClub cut Apple Hospitality REIT from a hold rating to a sell rating in a report on Wednesday, November 1st. B. Riley restated a neutral rating on shares of Apple Hospitality REIT in a report on Wednesday, November 1st. TheStreet upgraded Apple Hospitality REIT from a c rating to a b- rating in a report on Friday, December 8th. Finally, Robert W. Baird restated a buy rating and set a $21.00 target price on shares of Apple Hospitality REIT in a report on Friday, January 12th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $20.50.

Shares of Apple Hospitality REIT (APLE) traded up $0.29 during mid-day trading on Monday, reaching $19.91. The company had a trading volume of 1,543,700 shares, compared to its average volume of 1,244,809. The stock has a market cap of $4,376.45, a PE ratio of 19.71, a PEG ratio of 2.22 and a beta of 0.62. Apple Hospitality REIT has a 52 week low of $17.49 and a 52 week high of $20.68. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.05 and a quick ratio of 0.05.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $324.90 million during the quarter, compared to analysts’ expectations of $324.66 million. Apple Hospitality REIT had a return on equity of 6.46% and a net margin of 18.37%. Apple Hospitality REIT’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. research analysts anticipate that Apple Hospitality REIT will post 1.74 EPS for the current fiscal year.

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Wednesday, January 3rd were issued a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend was Tuesday, January 2nd. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 118.81%.

In other Apple Hospitality REIT news, insider Glade M. Knight acquired 5,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was acquired at an average price of $19.18 per share, for a total transaction of $95,900.00. Following the acquisition, the insider now owns 10,046,357 shares in the company, valued at approximately $192,689,127.26. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.30% of the company’s stock.

Large investors have recently made changes to their positions in the company. Schroder Investment Management Group bought a new position in shares of Apple Hospitality REIT in the 2nd quarter worth approximately $102,000. The Manufacturers Life Insurance Company raised its position in shares of Apple Hospitality REIT by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock worth $132,000 after acquiring an additional 494 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Apple Hospitality REIT in the 3rd quarter worth approximately $204,000. Advisor Group Inc. raised its position in shares of Apple Hospitality REIT by 18.2% in the 2nd quarter. Advisor Group Inc. now owns 11,040 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 1,698 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Apple Hospitality REIT by 4.2% in the 2nd quarter. SG Americas Securities LLC now owns 11,771 shares of the real estate investment trust’s stock worth $220,000 after acquiring an additional 471 shares in the last quarter. 50.91% of the stock is owned by hedge funds and other institutional investors.

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Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.

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