Apple Hospitality REIT (NYSE:APLE) Hits New 1-Year High – Still a Buy?

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week high on Thursday . The company traded as high as $16.04 and last traded at $15.8750, with a volume of 2947094 shares trading hands. The stock had previously closed at $15.92.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. 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 price objective for the company. JPMorgan Chase & Co. assumed coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They set a “neutral” rating and a $15.00 price objective for the company. Weiss Ratings raised Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. BMO Capital Markets raised their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Barclays raised their price objective on Apple Hospitality REIT from $13.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $14.44.

Apple Hospitality REIT Trading Up 0.3%

The firm has a market cap of $3.83 billion, a P/E ratio of 22.20, a price-to-earnings-growth ratio of 7.89 and a beta of 0.89. The stock has a fifty day simple moving average of $13.83 and a 200 day simple moving average of $12.67. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $337.74 million during 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%. On average, research analysts expect that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 131.51%.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $13.96 per share, with a total value of $69,800.00. Following the acquisition, the chairman owned 747,191 shares in the company, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors and hedge funds have recently modified their holdings of APLE. Royal Bank of Canada increased its holdings in shares of Apple Hospitality REIT by 2.8% in the 1st quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock worth $2,205,000 after purchasing an additional 4,712 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Apple Hospitality REIT by 114.3% in the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock worth $1,732,000 after purchasing an additional 72,553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Apple Hospitality REIT by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock worth $1,776,000 after purchasing an additional 6,788 shares in the last quarter. NewEdge Advisors LLC increased 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 worth $31,000 after purchasing an additional 1,814 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Apple Hospitality REIT by 10,235.7% in the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 21,495 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

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.