Apple Hospitality REIT, Inc. (NYSE:APLE – Get Rating) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 3,020,000 shares, a decline of 22.8% from the November 30th total of 3,910,000 shares. Based on an average daily trading volume, of 1,670,000 shares, the short-interest ratio is presently 1.8 days. Currently, 1.4% of the shares of the company are sold short.
Insider Transactions at Apple Hospitality REIT
In related news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction dated Thursday, November 10th. The stock was acquired at an average cost of $16.29 per share, for a total transaction of $81,450.00. Following the completion of the purchase, the chairman now owns 498,093 shares of the company’s stock, valued at approximately $8,113,934.97. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 6.80% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in Apple Hospitality REIT in the first quarter valued at $25,000. Lazard Asset Management LLC purchased a new position in Apple Hospitality REIT in the second quarter valued at $29,000. Ronald Blue Trust Inc. increased its stake in shares of Apple Hospitality REIT by 145.0% during the third quarter. Ronald Blue Trust Inc. now owns 2,528 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,496 shares in the last quarter. Pinebridge Investments L.P. increased its stake in shares of Apple Hospitality REIT by 309.1% during the second quarter. Pinebridge Investments L.P. now owns 2,864 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 2,164 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Apple Hospitality REIT by 7,602.3% during the third quarter. CWM LLC now owns 3,312 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 3,269 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.
Apple Hospitality REIT Stock Performance
APLE traded up $0.08 on Monday, reaching $15.78. The stock had a trading volume of 90,128 shares, compared to its average volume of 1,801,499. Apple Hospitality REIT has a 12-month low of $13.79 and a 12-month high of $18.69. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $16.38 and its two-hundred day moving average price is $15.90. The company has a market cap of $3.61 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 0.39 and a beta of 1.14.
Apple Hospitality REIT Cuts Dividend
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $0.96 dividend on an annualized basis and a yield of 6.08%. Apple Hospitality REIT’s payout ratio is 139.13%.
Analyst Ratings Changes
Separately, StockNews.com initiated coverage on shares of Apple Hospitality REIT in a report on Wednesday, October 12th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Apple Hospitality REIT has an average rating of “Moderate Buy” and a consensus target price of $19.50.
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 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states.
Further Reading
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