Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $17.00 Consensus Price Target from Analysts

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have earned a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $17.00.

Several analysts recently commented on APLE shares. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Oppenheimer decreased their target price on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Finally, Wedbush started coverage on shares of Apple Hospitality REIT in a report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price target on the stock.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the acquisition, the chairman now owns 636,990 shares of the company’s stock, valued at $8,943,339.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Apple Hospitality REIT in the 4th quarter worth approximately $36,260,000. Vanguard Group Inc. raised its position in shares of Apple Hospitality REIT by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after purchasing an additional 1,217,142 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Apple Hospitality REIT by 17.2% in the second quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock worth $87,518,000 after buying an additional 881,217 shares during the last quarter. Goldman Sachs Group Inc. boosted 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 buying an additional 678,905 shares during the period. Finally, Edgestream Partners L.P. grew its stake in Apple Hospitality REIT by 400.8% in the 2nd quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust’s stock valued at $9,286,000 after buying an additional 511,100 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

APLE opened at $14.27 on Friday. The firm has a market capitalization of $3.46 billion, a P/E ratio of 16.59 and a beta of 1.11. The stock has a fifty day moving average of $14.45 and a 200-day moving average of $15.16. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.48. Apple Hospitality REIT has a 12-month low of $13.60 and a 12-month high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.13). Apple Hospitality REIT had a return on equity of 6.11% and a net margin of 14.58%. The business had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. During the same period in the prior year, the company posted $0.49 earnings per share. Equities analysts forecast that Apple Hospitality REIT will post 1.4 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date of this dividend is Friday, August 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 111.63%.

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.