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In a recent SEC filing, Glade M. Knight, Executive Chairman of Apple Hospitality REIT, Inc. (NYSE:APLE), a $3.5 billion market cap hospitality REIT currently trading at $14.57, disclosed the purchase of 5,000 common shares. The transaction, which took place on February 27, 2025, was executed at a price of $14.54 per share, totaling approximately $72,700. According to InvestingPro analysis, the stock appears undervalued compared to its Fair Value.
Following this acquisition, Knight holds a direct ownership of 641,990 shares. In addition to these, there are 268,858 shares indirectly owned by his spouse and 9,837,031 shares held in a closely held LLC. Knight has disclaimed beneficial ownership of the LLC shares beyond his financial interest, as noted in the filing. The company maintains a strong 6.82% dividend yield and boasts a GREAT financial health score.
Investors often scrutinize such transactions for insights into the confidence levels of company insiders regarding the company’s future performance. InvestingPro data reveals that management has been actively buying back shares, potentially signaling confidence in the company’s outlook. Get access to 8 more exclusive ProTips and comprehensive analysis with an InvestingPro subscription.
In other recent news, Apple Hospitality REIT reported strong fourth-quarter earnings for 2024, surpassing analyst expectations. The company achieved an earnings per share of $0.12, exceeding the projected $0.10, and reported revenue of $333 million, which was higher than the anticipated $327 million. The company also highlighted a 42.5% year-over-year increase in comparable hotels’ total revenue, reaching $329 million. Despite these positive financial results, Apple (NASDAQ:AAPL) Hospitality’s stock experienced a decline in after-hours trading. The company continues to engage in strategic acquisitions and hotel renovations, supporting its competitive position in the market. Looking ahead, Apple Hospitality projects a net income between $173 million and $222 million for 2025, with plans for significant capital expenditures. The company also discussed potential asset sales and debt refinancing opportunities during its earnings call. Additionally, Apple Hospitality is maintaining a focus on leveraging benchmarking for growth opportunities, as noted by CFO Liz Perkins.
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