Apple Hospitality REIT Inc (NYSE:aple) announced a dividend on Monday, March 20th. Investors of record on Tuesday, April 4th will be given a dividend of 0.10 per share on Monday, April 17th. The ex-dividend date of this dividend is Friday, March 31st.
Shares of Apple Hospitality REIT (NYSE:APLE) opened at 18.95 on Tuesday. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 25.00 and a beta of 0.67. The company has a 50 day moving average of $19.74 and a 200 day moving average of $19.10. Apple Hospitality REIT has a 52-week low of $17.32 and a 52-week high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, February 27th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.18. Apple Hospitality REIT had a return on equity of 2.98% and a net margin of 8.78%. The firm had revenue of $282.43 million for the quarter, compared to analysts’ expectations of $269.59 million. During the same period last year, the business posted $0.35 earnings per share. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. Analysts predict that Apple Hospitality REIT will post $0.96 EPS for the current fiscal year.
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In related news, Director Redd Hugh bought 10,000 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were purchased at an average cost of $19.11 per share, with a total value of $191,100.00. Following the completion of the transaction, the director now directly owns 49,425 shares of the company’s stock, valued at $944,511.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Glade M. Knight bought 2,600 shares of the company’s stock in a transaction on Friday, March 3rd. The stock was bought at an average cost of $19.33 per share, for a total transaction of $50,258.00. Following the completion of the transaction, the insider now directly owns 10,004,632 shares of the company’s stock, valued at $193,389,536.56. The disclosure for this purchase can be found here. Insiders acquired 14,100 shares of company stock worth $269,888 over the last ninety days. 6.40% of the stock is owned by corporate insiders.
Several brokerages recently issued reports on APLE. Robert W. Baird upgraded Apple Hospitality REIT from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $19.00 to $20.00 in a research note on Tuesday, November 29th. Canaccord Genuity reaffirmed a “buy” rating and issued a $22.00 target price (up from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, December 23rd. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating and set a $23.00 target price on the stock in a research report on Monday, January 9th. Finally, FBR & Co set a $20.00 target price on Apple Hospitality REIT and gave the stock a “hold” rating in a research report on Monday, March 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $19.40.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a self-advised real estate investment trust (REIT) that invests in real estate, primarily in the lodging sector, in the United States. The Company owns hotel properties throughout the United States. The Company has REIT subsidiaries, which lease all of its hotels from qualified REIT subsidiaries.
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