Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $14.94 Consensus Target Price from Analysts

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been assigned a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $14.9375.

A number of analysts have weighed in on the company. Wells Fargo & Company raised their price target on Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. LADENBURG THALM/SH SH upped their price objective on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. started coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They set a “neutral” rating and a $15.00 target price on the stock. Finally, Barclays boosted their target price on Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st.

Apple Hospitality REIT Price Performance

Shares of APLE opened at $16.34 on Friday. The firm has a 50-day simple moving average of $15.24 and a two-hundred day simple moving average of $13.24. The stock has a market cap of $3.86 billion, a PE ratio of 22.38, a P/E/G ratio of 8.10 and a beta of 0.87. Apple Hospitality REIT has a 1-year low of $10.85 and a 1-year high of $17.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. As a group, analysts forecast that Apple Hospitality REIT will post 1.58 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Apple Hospitality REIT’s payout ratio is presently 131.51%.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the transaction, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in Apple Hospitality REIT by 2.8% during the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock worth $2,205,000 after buying an additional 4,712 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Apple Hospitality REIT by 114.3% during the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock valued at $1,732,000 after acquiring an additional 72,553 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Apple Hospitality REIT by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock valued at $1,776,000 after acquiring an additional 6,788 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,814 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Apple Hospitality REIT by 10,235.7% during the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 21,495 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Company Profile

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.