Apple Hospitality REIT (NYSE:APLE) Downgraded to “Sell” at Zacks Investment Research

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Zacks Investment Research cut shares of Apple Hospitality REIT (NYSE:APLE) from a hold rating to a sell rating in a research report sent to investors on Wednesday, Zacks.com reports.

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. “

A number of other research analysts have also issued reports on APLE. Barclays upgraded shares of Apple Hospitality REIT from an equal weight rating to an overweight rating and set a $18.00 target price on the stock in a report on Monday, August 12th. Capital One Financial assumed coverage on shares of Apple Hospitality REIT in a report on Tuesday, June 25th. They set an equal weight rating and a $17.00 price objective on the stock. Finally, ValuEngine upgraded shares of Apple Hospitality REIT from a sell rating to a hold rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Apple Hospitality REIT has an average rating of Hold and an average target price of $18.25.

NYSE:APLE opened at $15.50 on Wednesday. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 1.89 and a beta of 0.82. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average is $15.59 and its two-hundred day moving average is $16.07. Apple Hospitality REIT has a 12-month low of $13.81 and a 12-month high of $17.99.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.49. The company had revenue of $341.12 million for the quarter, compared to analyst estimates of $340.44 million. Apple Hospitality REIT had a net margin of 15.44% and a return on equity of 5.75%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. On average, equities research analysts forecast that Apple Hospitality REIT will post 1.65 earnings per share for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 7.74%. Apple Hospitality REIT’s payout ratio is currently 69.77%.

In other Apple Hospitality REIT news, Director Redd Hugh bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average price of $15.88 per share, with a total value of $31,760.00. Following the transaction, the director now owns 92,154 shares in the company, valued at $1,463,405.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Glade M. Knight bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of $15.39 per share, with a total value of $76,950.00. Following the transaction, the insider now owns 10,133,812 shares in the company, valued at approximately $155,959,366.68. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 9,000 shares of company stock worth $139,810. Insiders own 6.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of APLE. Geode Capital Management LLC increased its position in Apple Hospitality REIT by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 3,552,907 shares of the real estate investment trust’s stock worth $50,663,000 after purchasing an additional 70,176 shares in the last quarter. Meeder Asset Management Inc. increased its position in Apple Hospitality REIT by 81.0% during the 1st quarter. Meeder Asset Management Inc. now owns 10,687 shares of the real estate investment trust’s stock worth $174,000 after purchasing an additional 4,783 shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in Apple Hospitality REIT during the 1st quarter worth approximately $876,000. Brinker Capital Inc. increased its position in Apple Hospitality REIT by 131.3% during the 1st quarter. Brinker Capital Inc. now owns 42,847 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 24,319 shares in the last quarter. Finally, First Quadrant L P CA increased its position in Apple Hospitality REIT by 7,229.4% during the 1st quarter. First Quadrant L P CA now owns 42,657 shares of the real estate investment trust’s stock worth $695,000 after purchasing an additional 42,075 shares in the last quarter. 59.05% of the stock is owned by hedge funds and other institutional investors.

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 30,800 guest rooms located in 88 markets throughout 34 states.

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