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

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have earned an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.40.

A number of equities analysts have recently weighed in on the company. Wedbush initiated coverage on Apple Hospitality REIT in a report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 target price on the stock. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th.

Apple Hospitality REIT Trading Down 0.5 %

NYSE APLE opened at $14.21 on Friday. The firm’s 50 day moving average price is $14.55 and its two-hundred day moving average price is $15.68. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 0.79. Apple Hospitality REIT has a twelve month low of $13.96 and a twelve month high of $17.90. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 16.52 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The business had revenue of $329.51 million for the quarter, compared to analysts’ expectations of $324.68 million. Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. During the same quarter in the prior year, the firm posted $0.34 EPS. Equities analysts anticipate that Apple Hospitality REIT will post 1.4 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.96 annualized dividend and a dividend yield of 6.76%. Apple Hospitality REIT’s payout ratio is 111.63%.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction on Tuesday, May 21st. The stock was purchased at an average cost of $14.78 per share, for a total transaction of $73,900.00. Following the completion of the purchase, the chairman now directly owns 631,990 shares of the company’s stock, valued at $9,340,812.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Apple Hospitality REIT by 7.5% in the third quarter. Vanguard Group Inc. now owns 35,369,907 shares of the real estate investment trust’s stock worth $542,574,000 after purchasing an additional 2,476,241 shares during the period. Norges Bank acquired a new position in shares of Apple Hospitality REIT in the 4th quarter valued at $36,260,000. Goldman Sachs Group Inc. lifted its holdings in shares of Apple Hospitality REIT by 47.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,105,783 shares of the real estate investment trust’s stock worth $34,977,000 after acquiring an additional 678,905 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Apple Hospitality REIT by 17.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,375,459 shares of the real estate investment trust’s stock valued at $51,746,000 after acquiring an additional 502,472 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Apple Hospitality REIT by 24.7% in the third quarter. Legal & General Group Plc now owns 1,928,229 shares of the real estate investment trust’s stock valued at $29,579,000 after acquiring an additional 381,860 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.