Insider Buying: Apple Hospitality REIT, Inc. (NYSE:APLE) Chairman Purchases $73,900.00 in Stock

Apple Hospitality REIT, Inc. (NYSE:APLE) Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average cost of $14.78 per share, with a total value of $73,900.00. Following the completion of the purchase, the chairman now owns 631,990 shares in the company, valued at approximately $9,340,812.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Apple Hospitality REIT Stock Performance

Shares of APLE stock opened at $14.47 on Friday. The firm has a market cap of $3.51 billion, a PE ratio of 16.83 and a beta of 1.10. Apple Hospitality REIT, Inc. has a 12 month low of $14.22 and a 12 month high of $17.90. The company’s fifty day simple moving average is $15.43 and its 200-day simple moving average is $16.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.48.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). The business had revenue of $329.51 million for the quarter, compared to the consensus estimate of $324.68 million. Apple Hospitality REIT had a return on equity of 6.11% and a net margin of 14.58%. During the same period last year, the firm earned $0.34 earnings per share. Equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.64 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.96 annualized dividend and a yield of 6.63%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 111.63%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Apple Hospitality REIT has a consensus rating of “Hold” and a consensus target price of $18.40.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of APLE. Blue Trust Inc. increased its stake in shares of Apple Hospitality REIT by 11.9% during the 4th quarter. Blue Trust Inc. now owns 6,927 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 734 shares during the last quarter. Arizona State Retirement System increased its position in Apple Hospitality REIT by 1.2% during the third quarter. Arizona State Retirement System now owns 61,947 shares of the real estate investment trust’s stock worth $950,000 after buying an additional 749 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Apple Hospitality REIT by 3.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 29,662 shares of the real estate investment trust’s stock valued at $497,000 after buying an additional 859 shares during the period. abrdn plc lifted its position in shares of Apple Hospitality REIT by 2.3% in the third quarter. abrdn plc now owns 45,164 shares of the real estate investment trust’s stock valued at $693,000 after buying an additional 1,004 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Apple Hospitality REIT by 4.3% during the 3rd quarter. Van ECK Associates Corp now owns 25,254 shares of the real estate investment trust’s stock worth $387,000 after acquiring an additional 1,046 shares during the period. 89.66% of the stock is currently owned by institutional investors.

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 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.