Brokerages Set Apple Hospitality REIT, Inc. (NYSE:APLE) PT at $16.00

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been assigned an average recommendation of “Hold” from the ten ratings firms that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $16.00.

Several equities analysts recently weighed in on the stock. LADENBURG THALM/SH SH lifted their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Cantor Fitzgerald increased their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. 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, June 12th. Zacks Research upgraded Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. 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.

Apple Hospitality REIT Trading Down 0.6%

Shares of APLE stock opened at $16.50 on Tuesday. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 3.23 and a beta of 0.87. 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 fifty-two week low of $10.85 and a fifty-two week high of $17.13. The firm’s 50 day moving average price is $16.24 and its two-hundred day moving average price is $13.81.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The company had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. On average, analysts anticipate that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 31st will be issued a dividend of $0.08 per share. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Friday, July 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 131.51%.

Insider Buying and Selling

In related news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $13.96 per share, with a total value of $69,800.00. Following the transaction, the chairman owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.90% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

Several large investors have recently bought and sold shares of APLE. State Street Corp lifted its position in shares of Apple Hospitality REIT by 0.5% during the fourth quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust’s stock worth $154,627,000 after purchasing an additional 68,794 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Apple Hospitality REIT by 1.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust’s stock valued at $84,227,000 after purchasing an additional 127,327 shares in the last quarter. UBS Group AG grew its holdings in Apple Hospitality REIT by 60.8% during the 4th quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock valued at $55,950,000 after purchasing an additional 1,786,018 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Apple Hospitality REIT by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust’s stock worth $55,871,000 after buying an additional 125,759 shares during the period. Finally, Centerbridge Partners L.P. increased its stake in Apple Hospitality REIT by 88.2% during the 4th quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock worth $50,123,000 after buying an additional 1,982,000 shares during the period. Institutional investors and hedge funds 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.