Apple Hospitality REIT Inc (NYSE:APLE) Insider Purchases $176,300.00 in Stock
Apple Hospitality REIT Inc (NYSE:APLE) insider Glade M. Knight bought 10,000 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were bought at an average price of $17.63 per share, with a total value of $176,300.00. Following the completion of the purchase, the insider now owns 10,098,933 shares in the company, valued at approximately $178,044,188.79. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of APLE traded down $0.10 during midday trading on Friday, hitting $17.61. 921,088 shares of the company traded hands, compared to its average volume of 983,718. Apple Hospitality REIT Inc has a 52 week low of $16.72 and a 52 week high of $20.19. The company has a market capitalization of $4.04 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 2.03 and a beta of 0.64. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.14.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, August 6th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.22). Apple Hospitality REIT had a net margin of 13.55% and a return on equity of 4.80%. The company had revenue of $344.70 million for the quarter, compared to the consensus estimate of $347.27 million. During the same period last year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. sell-side analysts expect that Apple Hospitality REIT Inc will post 1.73 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in Apple Hospitality REIT in the 2nd quarter worth about $644,000. Public Employees Retirement System of Ohio raised its position in Apple Hospitality REIT by 2.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 419,021 shares of the real estate investment trust’s stock worth $7,492,000 after purchasing an additional 8,175 shares during the period. Jane Street Group LLC purchased a new stake in Apple Hospitality REIT in the 2nd quarter worth about $284,000. Forsta AP Fonden raised its position in Apple Hospitality REIT by 76.9% in the 2nd quarter. Forsta AP Fonden now owns 46,700 shares of the real estate investment trust’s stock worth $835,000 after purchasing an additional 20,300 shares during the period. Finally, Millennium Management LLC raised its position in Apple Hospitality REIT by 66.5% in the 2nd quarter. Millennium Management LLC now owns 1,980,280 shares of the real estate investment trust’s stock worth $35,407,000 after purchasing an additional 791,220 shares during the period. Hedge funds and other institutional investors own 56.56% of the company’s stock.
APLE has been the subject of a number of research reports. ValuEngine lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. B. Riley raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, August 8th. Finally, Zacks Investment Research downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.25.
About Apple Hospitality REIT
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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.
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