Robert W. Baird upgraded shares of Apple Hospitality REIT Inc. (NYSE:APLE) from a neutral rating to an outperform rating in a research report report published on Tuesday morning. They currently have $20.00 target price on the stock, up from their prior target price of $19.00.

Several other analysts have also recently issued reports on APLE. Zacks Investment Research cut Apple Hospitality REIT from a buy rating to a hold rating in a research report on Monday, August 15th. Ladenburg Thalmann reissued a sell rating and set a $13.00 price target on shares of Apple Hospitality REIT in a research note on Sunday, September 4th. Canaccord Genuity reissued a buy rating and set a $22.00 price target on shares of Apple Hospitality REIT in a research note on Monday, November 7th. Finally, FBR & Co reissued a hold rating and set a $20.00 price target on shares of Apple Hospitality REIT in a research note on Wednesday, November 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $19.20.

Apple Hospitality REIT (NYSE:APLE) opened at 18.69 on Tuesday. The stock has a market capitalization of $4.17 billion, a PE ratio of 39.10 and a beta of 0.63. Apple Hospitality REIT has a 1-year low of $16.35 and a 1-year high of $20.97. The stock’s 50 day moving average price is $18.02 and its 200 day moving average price is $18.78.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, November 7th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. Apple Hospitality REIT had a return on equity of 2.98% and a net margin of 8.78%. The firm earned $276.50 million during the quarter, compared to analysts’ expectations of $16.75 million. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts predict that Apple Hospitality REIT will post $1.75 earnings per share for the current fiscal year.

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The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, December 2nd will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.39%. The ex-dividend date of this dividend is Wednesday, November 30th. Apple Hospitality REIT’s payout ratio is 250.01%.

In other Apple Hospitality REIT news, Director Redd Hugh purchased 7,000 shares of Apple Hospitality REIT stock in a transaction dated Tuesday, November 15th. The shares were purchased at an average cost of $17.91 per share, for a total transaction of $125,370.00. Following the completion of the acquisition, the director now owns 40,323 shares in the company, valued at approximately $722,184.93. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Glade M. Knight purchased 5,385 shares of Apple Hospitality REIT stock in a transaction dated Friday, September 9th. The stock was acquired at an average price of $18.43 per share, for a total transaction of $99,245.55. Following the completion of the acquisition, the insider now owns 9,996,232 shares of the company’s stock, valued at approximately $184,230,555.76. The disclosure for this purchase can be found here. 6.40% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. AMP Capital Investors Ltd increased its stake in shares of Apple Hospitality REIT by 24.2% in the first quarter. AMP Capital Investors Ltd now owns 33,050 shares of the company’s stock valued at $652,000 after buying an additional 6,450 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Apple Hospitality REIT by 6.0% in the first quarter. Legal & General Group Plc now owns 314,058 shares of the company’s stock valued at $6,222,000 after buying an additional 17,719 shares during the last quarter. LPL Financial LLC increased its stake in shares of Apple Hospitality REIT by 3.7% in the first quarter. LPL Financial LLC now owns 70,962 shares of the company’s stock valued at $1,368,000 after buying an additional 2,508 shares during the last quarter. Spirit of America Management Corp NY increased its stake in shares of Apple Hospitality REIT by 12.2% in the second quarter. Spirit of America Management Corp NY now owns 146,677 shares of the company’s stock valued at $2,759,000 after buying an additional 15,900 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Apple Hospitality REIT by 1.8% in the second quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the company’s stock valued at $105,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 40.29% of the company’s stock.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a self-advised real estate investment trust (REIT) that invests in income-producing real estate, primarily in the lodging sector, in the United States. The Company owns hotel properties throughout the United States. The Company owns approximately 180 hotels operating in over 30 states with an aggregate of approximately 22,960 rooms.

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