Traders Buy High Volume of Apple Hospitality REIT Call Options (NYSE:APLE)

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Apple Hospitality REIT Inc (NYSE:APLE) was the target of some unusual options trading on Thursday. Stock investors purchased 3,069 call options on the stock. This is an increase of approximately 903% compared to the average volume of 306 call options.

Several equities analysts have recently issued reports on the company. Barclays lowered Apple Hospitality REIT from an “overweight” rating to an “equal weight” rating and set a $10.00 price target on the stock. in a research note on Tuesday, March 17th. Capital One Financial raised Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $17.00 to $14.00 in a research note on Monday, March 9th. B. Riley cut their target price on Apple Hospitality REIT from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, ValuEngine raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $14.40.

In other news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average price of $11.90 per share, with a total value of $59,500.00. Following the completion of the purchase, the chairman now directly owns 10,211,968 shares of the company’s stock, valued at approximately $121,522,419.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Apple Hospitality REIT in the fourth quarter worth about $42,307,000. Wealth Quarterback LLC bought a new stake in shares of Apple Hospitality REIT in the fourth quarter worth about $361,000. Pearl River Capital LLC bought a new stake in shares of Apple Hospitality REIT in the fourth quarter worth about $275,000. Sunbelt Securities Inc. bought a new stake in shares of Apple Hospitality REIT in the fourth quarter worth about $3,827,000. Finally, Geode Capital Management LLC increased its holdings in shares of Apple Hospitality REIT by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,012,085 shares of the real estate investment trust’s stock worth $65,196,000 after acquiring an additional 46,379 shares in the last quarter. 62.08% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:APLE opened at $9.57 on Friday. Apple Hospitality REIT has a 1-year low of $4.48 and a 1-year high of $16.88. The business’s 50-day moving average price is $12.11 and its two-hundred day moving average price is $15.09. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 12.43 and a beta of 0.86.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.22). Apple Hospitality REIT had a net margin of 13.57% and a return on equity of 5.16%. The company had revenue of $289.97 million during the quarter, compared to analyst estimates of $288.45 million. Sell-side analysts predict that Apple Hospitality REIT will post 1.54 earnings per share for the current year.

The business also recently announced a monthly dividend, which was paid on Monday, March 16th. Shareholders of record on Wednesday, March 4th were paid a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 12.54%. The ex-dividend date was Tuesday, March 3rd. Apple Hospitality REIT’s payout ratio is 73.62%.

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, 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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