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

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been assigned an average rating of “Hold” from the nine research firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $13.9375.

A number of research firms have issued reports on APLE. LADENBURG THALM/SH SH began coverage on Apple Hospitality REIT in a research note on Thursday, March 26th. They issued a “neutral” rating and a $13.00 target price on the stock. Cantor Fitzgerald raised their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. began coverage on Apple Hospitality REIT in a research note on Monday, June 1st. They issued a “neutral” rating and a $15.00 target price on the stock. Wells Fargo & Company raised their target price on Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Finally, Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the purchase, the chairman owned 747,191 shares of the company’s stock, valued at $10,430,786.36. This represents a 0.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC grew its stake in shares of Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Apple Hospitality REIT by 1,375.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,640 shares in the last quarter. Danske Bank A S bought a new position in shares of Apple Hospitality REIT in the third quarter worth $36,000. Godfrey Financial Associates Inc. bought a new position in shares of Apple Hospitality REIT in the fourth quarter worth $43,000. Finally, Inspire Investing LLC grew its stake in shares of Apple Hospitality REIT by 2,965.1% in the first quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 3,736 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $15.61 on Monday. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $15.80. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 21.39 and a beta of 0.89. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The business has a 50 day simple moving average of $13.40 and a 200-day simple moving average of $12.52.

Apple Hospitality REIT (NYSE:APLE) last issued 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. The firm had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. As a group, equities research analysts expect that Apple Hospitality REIT will post 1.58 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Friday, May 29th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 131.51%.

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.