Apple Hospitality REIT, Inc. (NYSE:APLE – Get Rating) – Equities research analysts at KeyCorp issued their FY2024 earnings per share estimates for Apple Hospitality REIT in a report released on Tuesday, December 6th. KeyCorp analyst A. Wurschmidt expects that the real estate investment trust will post earnings of $1.76 per share for the year. The consensus estimate for Apple Hospitality REIT’s current full-year earnings is $1.55 per share.
A number of other equities research analysts also recently weighed in on APLE. TheStreet raised Apple Hospitality REIT from a “c” rating to a “b-” rating in a report on Thursday, August 11th. B. Riley upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating in a research note on Thursday, August 11th. StockNews.com assumed coverage on shares of Apple Hospitality REIT in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company upgraded shares of Apple Hospitality REIT from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $16.00 to $17.00 in a research note on Monday, August 29th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.50.
Apple Hospitality REIT Stock Down 0.7 %
NYSE APLE opened at $16.58 on Thursday. 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 stock’s 50 day moving average is $16.04 and its two-hundred day moving average is $15.92. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 0.41 and a beta of 1.15. Apple Hospitality REIT has a 1-year low of $13.79 and a 1-year high of $18.69.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Apple Hospitality REIT by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 33,258,207 shares of the real estate investment trust’s stock worth $597,649,000 after purchasing an additional 452,722 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Apple Hospitality REIT by 4.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,952,807 shares of the real estate investment trust’s stock worth $234,028,000 after acquiring an additional 718,297 shares during the period. State Street Corp grew its holdings in Apple Hospitality REIT by 0.5% during the 2nd quarter. State Street Corp now owns 10,438,176 shares of the real estate investment trust’s stock worth $153,128,000 after acquiring an additional 49,411 shares during the period. Principal Financial Group Inc. grew its holdings in Apple Hospitality REIT by 8.0% during the 1st quarter. Principal Financial Group Inc. now owns 6,863,954 shares of the real estate investment trust’s stock worth $123,346,000 after acquiring an additional 509,994 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Apple Hospitality REIT by 7.3% during the 1st quarter. JPMorgan Chase & Co. now owns 6,792,786 shares of the real estate investment trust’s stock worth $122,066,000 after acquiring an additional 465,035 shares during the period. Institutional investors own 81.38% of the company’s stock.
Insider Activity
In related news, Chairman Glade M. Knight acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was purchased at an average price of $16.29 per share, for a total transaction of $81,450.00. Following the transaction, the chairman now directly owns 498,093 shares of the company’s stock, valued at approximately $8,113,934.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.80% of the stock is currently owned by corporate insiders.
Apple Hospitality REIT Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, December 2nd will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend is Thursday, December 1st. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 139.13%.
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.
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