Apple Hospitality REIT, Inc. (NYSE:APLE) Stock Has Consensus Price Target of $17.31

Apple Hospitality REIT, Inc. (NYSE:APLE) has earned an average recommendation of “Hold” from the ten analysts that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $18.19.

A number of analysts have weighed in on APLE shares. Ladenburg Thalmann & Co. Inc. increased their price target on shares of Apple Hospitality REIT from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of Apple Hospitality REIT in a report on Tuesday, November 3rd. Compass Point raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $17.50 to $18.50 in a research report on Friday, August 7th. Bank of America boosted their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, Barclays upped their price target on Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, October 13th.

Apple Hospitality REIT Stock Performance

Shares of APLE opened at $19.79 on Thursday. The company has a market capitalization of $4.67 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 2.13 and a beta of 0.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.81 and a quick ratio of 0.81. Apple Hospitality REIT has a one year low of $11.31 and a one year high of $20.25. The company’s fifty day moving average price is $16.94 and its 200 day moving average price is $14.92.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Apple Hospitality REIT had a net margin of 12.62% and a return on equity of 5.88%. The company had revenue of $398.33 million during the quarter, compared to analysts’ expectations of $384.64 million. As a group, analysts expect that Apple Hospitality REIT will post 1.63 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Friday, October 30th. Apple Hospitality REIT’s dividend payout ratio is presently 121.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in shares of Apple Hospitality REIT in the 3rd quarter valued at approximately $5,277,000. Public Sector Pension Investment Board lifted its position in shares of Apple Hospitality REIT by 19.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,179,019 shares of the real estate investment trust’s stock worth $19,371,000 after buying an additional 188,533 shares during the period. Global Retirement Partners LLC lifted its position in shares of Apple Hospitality REIT by 981.4% during the 3rd quarter. Global Retirement Partners LLC now owns 8,316 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 7,547 shares during the period. Edgestream Partners L.P. bought a new position in shares of Apple Hospitality REIT during the 3rd quarter worth approximately $6,733,000. Finally, HighTower Advisors LLC boosted its stake in Apple Hospitality REIT by 10.7% in the 3rd quarter. HighTower Advisors LLC now owns 21,429 shares of the real estate investment trust’s stock valued at $346,000 after buying an additional 2,073 shares in the last quarter. 89.66% of the stock is owned by institutional investors.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc. is a real estate investment trust that owns a portfolio of hotels in the United States. Its properties primarily serve business and leisure travelers and operate in the upscale segment, including select-service and extended-stay formats. The company’s hotels are affiliated with well-known hospitality brands, including Marriott, Hilton and Hyatt. Apple Hospitality REIT owns the real estate and works with hotel operators to manage day-to-day operations. Formed in 2007, the company is headquartered in Richmond, Virginia.