Apple Hospitality REIT Inc. (NYSE: APLE) stock fell -0.41% on Thursday to $14.54 against a previous-day closing price of $14.60. With 2.25 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.89 million shares. During the session, the REIT – Hotel & Motel company that operates in wider Real Estate sector, reached to the highest price of $14.60 whereas the lowest price it dropped to was $14.22. The 52-week range on APLE shows that it touched its highest point at $18.22 and its lowest point at $13.66 during that stretch. It currently has a 1-year price target of $18.57. With its current market cap of 3.35 billion, APLE has annualized dividend of $0.96 while the current yield stands at 6.60%. Beta for the stock currently stands at 1.18.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of APLE was down-trending over the past week, with a drop of -5.03%, but this was down by -1.69% over a month. Three-month performance dropped to -12.83% while six-month performance fell -13.21%. The stock lost -4.72% in the past year, while it has lost -7.86% so far this year. A look at the trailing 12-month EPS for APLE yields 0.70 with Next year EPS estimates of 0.91. For the next quarter, that number is 0.20. This implies an EPS growth rate of 660.40% for this year and 15.19% for next year.
Float and Shares Shorts:
At present, 229.40 million APLE shares are outstanding with a float of 213.11 million shares on hand for trading. On May 14, 2023, short shares totaled 3.62 million, which was 1.58% higher than short shares on Apr 13, 2023. In addition to Mr. Glade M. Knight as the firm’s Exec. Chairman, Mr. Justin G. Knight serves as its CEO & Director.
Through their ownership of 83.58% of APLE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.43% of APLE, in contrast to 50.28% held by mutual funds. Shares owned by individuals account for 35.01%. As the largest shareholder in APLE with 14.33% of the stake, The Vanguard Group, Inc. holds 32,772,325 shares worth 32,772,325. A second-largest stockholder of APLE, BlackRock Fund Advisors, holds 16,385,833 shares, controlling over 7.17% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in APLE, holding 10,696,934 shares or 4.68% stake. With a 4.18% stake in APLE, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 9,550,237 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.78% of APLE stock, is the second-largest Mutual Fund holder. It holds 6,353,731 shares valued at 94.61 million. Vanguard Small Cap Index Fund holds 2.36% of the stake in APLE, owning 5,384,310 shares worth 80.17 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, APLE reported revenue of $337.67M and operating income of $80.75M. The EBITDA in the recently reported quarter was $126.07M and diluted EPS was $0.29.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for APLE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With APLE analysts setting a high price target of $21.00 and a low target of $17.00, the average target price over the next 12 months is $18.57. Based on these targets, APLE could surge 44.43% to reach the target high and rise by 16.92% to reach the target low. Reaching the average price target will result in a growth of 27.72% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded APLE stock several times over the past three months with 23 Buys and 12 Sells. In these transactions, 947,283 shares were bought while 346,244 shares were sold. The number of buy transactions has increased to 47 while that of sell transactions has risen to 21 over the past year. The total number of shares bought during that period was 989,994 while 426,487 shares were sold.