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

Apple Hospitality REIT, Inc. (NYSE:APLE) has been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.6429.

A number of equities research analysts have recently commented on the company. Wells Fargo & Company dropped their target price on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 24th. LADENBURG THALM/SH SH assumed coverage on Apple Hospitality REIT in a research report on Thursday, March 26th. They set a “neutral” rating and a $13.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 target price on shares of Apple Hospitality REIT in a research report on Tuesday, March 3rd. Finally, Barclays dropped their target price on Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of institutional investors have recently modified their holdings of APLE. NewEdge Advisors LLC grew its position in shares of Apple Hospitality REIT by 295.9% during 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 during the period. EverSource Wealth Advisors LLC grew its position in shares of Apple Hospitality REIT by 1,375.0% during 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 acquiring an additional 2,640 shares during the period. Cloud Capital Management LLC acquired a new stake in shares of Apple Hospitality REIT during the 3rd quarter valued at about $34,000. Danske Bank A S acquired a new stake in shares of Apple Hospitality REIT during the 3rd quarter valued at about $36,000. Finally, Godfrey Financial Associates Inc. acquired a new stake in Apple Hospitality REIT in the 4th quarter worth about $43,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Performance

NYSE APLE opened at $13.15 on Friday. The stock has a 50-day simple moving average of $12.15 and a two-hundred day simple moving average of $11.97. The firm has a market capitalization of $3.10 billion, a P/E ratio of 17.76 and a beta of 0.82. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $13.27. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.40 and a current ratio of 0.40.

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

Apple Hospitality REIT Announces Dividend

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

About Apple Hospitality REIT

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.