Apple Hospitality REIT (NYSE:APLE) Sets New 12-Month High – Here’s Why

Apple Hospitality REIT, Inc. (NYSE:APLE)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $13.31 and last traded at $13.2350, with a volume of 658234 shares. The stock had previously closed at $13.14.

Analysts Set New Price Targets

A number of research analysts recently issued reports on APLE shares. Wells Fargo & Company decreased their price target on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Barclays decreased their price target on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price target on shares of Apple Hospitality REIT in a research note on Tuesday, March 3rd. LADENBURG THALM/SH SH began coverage on shares of Apple Hospitality REIT in a research note on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price target for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.64.

Apple Hospitality REIT Stock Up 0.3%

The firm has a market cap of $3.11 billion, a PE ratio of 17.83 and a beta of 0.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.40 and a current ratio of 0.40. The firm’s 50-day moving average price is $12.15 and its two-hundred day moving average price is $11.97.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.16). Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%.The company had revenue of $326.44 million for the quarter, compared to analysts’ expectations of $322.60 million. As a group, equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.49 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be given a $0.08 dividend. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a yield of 7.3%. Apple Hospitality REIT’s dividend payout ratio is 129.73%.

Institutional Trading of Apple Hospitality REIT

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC raised its position in Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,814 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 2,640 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in Apple Hospitality REIT in the 3rd quarter valued at $34,000. Danske Bank A S purchased a new stake in Apple Hospitality REIT in the 3rd quarter valued at $36,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in Apple Hospitality REIT in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.