Apple Hospitality REIT, Inc. (NYSE:APLE) Receives Average Recommendation of “Hold” from Analysts

Apple Hospitality REIT, Inc. (NYSE:APLE) has received an average rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.9286.

Several research firms have recently weighed in on APLE. Wells Fargo & Company cut their price objective on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 24th. Barclays lowered their target price on 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. LADENBURG THALM/SH SH started 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 on the stock. Cantor Fitzgerald upped their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday, April 22nd.

Apple Hospitality REIT Price Performance

APLE opened at $14.53 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. Apple Hospitality REIT has a 12 month low of $10.85 and a 12 month high of $14.54. The company has a fifty day simple moving average of $12.66 and a 200 day simple moving average of $12.24. The stock has a market cap of $3.43 billion, a P/E ratio of 19.90 and a beta of 0.88.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The firm had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. On average, research analysts expect that Apple Hospitality REIT will post 1.55 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 6.6%. Apple Hospitality REIT’s dividend payout ratio is 131.51%.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the transaction, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in shares of 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 acquiring an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,640 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Apple Hospitality REIT during the third quarter worth about $34,000. Danske Bank A S acquired a new position in Apple Hospitality REIT during the third quarter valued at approximately $36,000. Finally, Godfrey Financial Associates Inc. acquired a new position in Apple Hospitality REIT during the fourth quarter valued at approximately $43,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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.