Bargain Bin Stocks: APLE Now 18.0% Cheaper Than Director Bunting Jr.'s Buy

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There’s an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on March 10, Apple Hospitality REIT Inc’s Director, Glenn W. Bunting Jr., invested $110,321.00 into 10,000 shares of APLE, for a cost per share of $11.03. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Thursday, bargain hunters could buy shares of Apple Hospitality REIT Inc (Symbol: APLE) and achieve a cost basis 18.0% cheaper than Bunting Jr., with shares changing hands as low as $9.05 per share. Apple Hospitality REIT Inc shares are currently trading off about 1% on the day. The chart below shows the one year performance of APLE shares, versus its 200 day moving average:

Looking at the chart above, APLE’s low point in its 52 week range is $4.48 per share, with $16.876 as the 52 week high point — that compares with a last trade of $9.10. By comparison, below is a table showing the prices at which APLE insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
11/08/2019 Glade M. Knight Executive Chairman 5,000 $16.26 $81,296.50
11/13/2019 Redd Hugh Director 1,000 $16.05 $16,050.00
11/15/2019 Redd Hugh Director 1,000 $16.12 $16,116.50
03/03/2020 Redd Hugh Director 4,000 $12.95 $51,818.50
03/02/2020 Glade M. Knight Executive Chairman 5,000 $13.14 $65,700.00
03/10/2020 Redd Hugh Director 1,000 $11.15 $11,151.00
03/10/2020 Glenn W. Bunting Jr. Director 10,000 $11.03 $110,321.00
03/10/2020 Glade M. Knight Executive Chairman 5,000 $11.90 $59,493.50

The current annualized dividend paid by Apple Hospitality REIT Inc is $1.2/share, currently paid in monthly installments, and its most recent dividend ex-date was on 03/03/2020. Below is a long-term dividend history chart for APLE, which can be of good help in judging whether the most recent dividend with approx. 13.0% annualized yield is likely to continue.

Click here to find out which 9 other dividend bargains you can buy cheaper than insiders »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.