Apple Hospitality REIT Inc (APLE) was Upgraded by Robert W. Baird to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 20 from a previous price target of $19 . Earlier the firm had a rating of “Neutral ” on the company shares. Robert W. Baird advised their investors in a research report released on Nov 29, 2016.
On the company’s financial health, Apple Hospitality REIT Inc reported $0.49 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 7, 2016. Analyst had a consensus of $0.48. The company had revenue of $276.50 million for the quarter, compared to analysts expectations of $280.49 million. The company’s revenue was up 14.9% compared to the same quarter last year.
Apple Hospitality REIT Inc opened for trading at $18.2 and hit $18.385 on the upside on Friday, eventually ending the session at $18.35, with a gain of 0.82% or 0.15 points. The heightened volatility saw the trading volume jump to 4,70,724 shares. Company has a market cap of $4,099 M.
Investors should note that on Nov 21, 2016, Apple Hospitality REIT Inc announced a cash dividend of $0.1000. The company’s management has announced Nov 30, 2016 as the ex-dividend date and fixed the record date on Dec 2, 2016. The payable date has been fixed on Dec 15, 2016.
In a different news, on Nov 16, 2016, Redd Hugh (director) purchased 7,000 shares at $17.91 per share price. According to the SEC, on Nov 15, 2016, Glade M Knight (Executive Chairman) purchased 2,825 shares at $17.55 per share price. On Sep 9, 2016, Bryan Peery (CFO) purchased 2,289 shares at $18.25 per share price, according to the Form-4 filing with the securities and exchange commission.
Apple Hospitality REIT Inc. is a real estate investment trust (REIT). The Company owns portfolios of upscale select service hotels in the United States. The Company’s portfolio is diversified across the Hilton and Marriott families of brands with locations in urban suburban and developing markets. The Company operates approximately 177 hotels with approximately 22750 guestrooms under Courtyard by Marriott Fairfield Inn by Marriott Fairfield Inn & Suites by Marriott Marriott Hotels & Resorts Renaissance Hotels Residence Inn by Marriott SpringHill Suites by Marriott TownePlace Suites by Marriott Embassy Suites Hotels Hampton Inn Hampton Inn & Suites Hilton Hilton Garden Inn Home2 Suites by Hilton and Homewood Suites by Hilton brands. The Company operates approximately 90 Marriott-branded hotels and 83 Hilton-branded hotels.