Apple Hospitality REIT, Inc. (NYSE:APLE) Short Interest Up 12.7% in January

Apple Hospitality REIT, Inc. (NYSE:APLE) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 8,450,000 shares, an increase of 12.7% from the December 31st total of 7,500,000 shares. Currently, 3.8% of the company’s shares are short sold. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is currently 4.8 days.

Apple Hospitality REIT Stock Performance

APLE stock traded down $0.11 during midday trading on Monday, hitting $15.33. 1,769,075 shares of the company traded hands, compared to its average volume of 1,734,699. The business has a 50 day simple moving average of $15.53 and a 200-day simple moving average of $15.06. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $16.99. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 18.04 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The business had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, equities research analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date is Friday, January 31st. Apple Hospitality REIT’s payout ratio is 112.94%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in shares of Apple Hospitality REIT by 11.9% in the third quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock valued at $100,059,000 after purchasing an additional 718,844 shares during the period. Advisors Preferred LLC acquired a new position in shares of Apple Hospitality REIT in the fourth quarter valued at about $4,651,000. Holocene Advisors LP acquired a new position in shares of Apple Hospitality REIT during the 3rd quarter worth approximately $4,285,000. Barclays PLC increased its holdings in shares of Apple Hospitality REIT by 118.8% during the third quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust’s stock worth $6,273,000 after purchasing an additional 229,293 shares during the period. Finally, Systematic Financial Management LP raised its position in shares of Apple Hospitality REIT by 11.0% in the third quarter. Systematic Financial Management LP now owns 2,099,877 shares of the real estate investment trust’s stock valued at $31,183,000 after buying an additional 207,256 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on APLE. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. BMO Capital Markets started coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 price target for the company. Oppenheimer reissued an “outperform” rating and issued a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their price objective for the company from $16.00 to $17.00 in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Apple Hospitality REIT has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.

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.