Zacks Investment Research lowered shares of Apple Hospitality REIT (NYSE:APLE) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, 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. “

Other analysts also recently issued research reports about the stock. Barclays raised shares of Apple Hospitality REIT from an equal weight rating to an overweight rating and set a $18.00 price objective for the company in a research report on Monday, August 12th. Capital One Financial assumed coverage on shares of Apple Hospitality REIT in a research report on Tuesday, June 25th. They set an equal weight rating and a $17.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $18.25.

NYSE:APLE traded up $0.09 on Thursday, reaching $16.42. 369,499 shares of the stock traded hands, compared to its average volume of 1,128,847. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 2.00 and a beta of 0.80. The company’s 50 day moving average is $15.68 and its 200-day moving average is $16.04. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.05. Apple Hospitality REIT has a 1-year low of $13.81 and a 1-year high of $17.80.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $341.12 million during the quarter, compared to the consensus estimate of $340.44 million. Apple Hospitality REIT had a net margin of 15.44% and a return on equity of 5.75%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. On average, equities research analysts forecast that Apple Hospitality REIT will post 1.65 EPS 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 given a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.31%. The ex-dividend date of this dividend is Friday, August 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is 69.77%.

In other news, insider Glade M. Knight bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $15.39 per share, for a total transaction of $76,950.00. Following the acquisition, the insider now directly owns 10,133,812 shares in the company, valued at $155,959,366.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Redd Hugh bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $15.55 per share, for a total transaction of $31,100.00. Following the completion of the acquisition, the director now owns 95,154 shares in the company, valued at $1,479,644.70. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 112,879 shares of company stock valued at $864,026. Insiders own 6.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of APLE. Schroder Investment Management Group lifted its holdings in shares of Apple Hospitality REIT by 175.0% in the 2nd quarter. Schroder Investment Management Group now owns 4,771,948 shares of the real estate investment trust’s stock worth $75,683,000 after purchasing an additional 3,036,672 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Apple Hospitality REIT by 6.5% in the 1st quarter. BlackRock Inc. now owns 17,555,764 shares of the real estate investment trust’s stock worth $286,160,000 after purchasing an additional 1,063,975 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Apple Hospitality REIT by 19.6% in the 2nd quarter. Renaissance Technologies LLC now owns 4,076,488 shares of the real estate investment trust’s stock worth $64,653,000 after purchasing an additional 668,400 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Apple Hospitality REIT in the 2nd quarter worth $9,845,000. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Apple Hospitality REIT by 513.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 695,528 shares of the real estate investment trust’s stock worth $11,336,000 after purchasing an additional 582,110 shares in the last quarter. Institutional investors own 59.18% of the company’s stock.

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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