Apple Hospitality REIT, Inc. (NYSE:APLE) Given Consensus Rating of “Hold” by Brokerages

Apple Hospitality REIT, Inc. (NYSE:APLE) has been assigned an average rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $16.50.

A number of brokerages have issued reports on APLE. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Compass Point raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their price target for the company from $17.50 to $18.50 in a research report on Friday, August 7th. Bank of America increased their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Finally, Zacks Research cut Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th.

Apple Hospitality REIT Stock Up 0.8%

Shares of NYSE:APLE opened at $15.80 on Wednesday. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 3.07 and a beta of 0.88. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT has a 12-month low of $10.85 and a 12-month high of $17.28. The business’s 50 day moving average is $16.17 and its 200 day moving average is $14.80.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%.The business had revenue of $402.55 million during the quarter, compared to the consensus estimate of $391.88 million. On average, sell-side analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 6.1%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 129.73%.

Institutional Trading of Apple Hospitality REIT

Several hedge funds and other institutional investors have recently modified their holdings of APLE. Palouse Capital Management Inc. lifted its holdings in Apple Hospitality REIT by 21.1% during the 2nd quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 750 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Apple Hospitality REIT by 0.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock worth $2,764,000 after acquiring an additional 1,068 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Apple Hospitality REIT by 3.3% during the fourth quarter. ProShare Advisors LLC now owns 43,518 shares of the real estate investment trust’s stock worth $516,000 after acquiring an additional 1,370 shares during the period. GAMMA Investing LLC increased its position in shares of Apple Hospitality REIT by 15.5% during the second quarter. GAMMA Investing LLC now owns 11,552 shares of the real estate investment trust’s stock worth $194,000 after acquiring an additional 1,548 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Apple Hospitality REIT by 3.0% in the first quarter. Cetera Investment Advisers now owns 54,066 shares of the real estate investment trust’s stock valued at $622,000 after acquiring an additional 1,568 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a real estate investment trust that owns a portfolio of upscale, select-service and extended-stay hotels across the United States. The company generates revenue primarily through hotel operations, including room accommodations, food and beverage services, and other guest services.

Its properties operate under well-known hotel brands, including Marriott, Hilton and Hyatt. The portfolio includes brands such as Courtyard by Marriott, Fairfield by Marriott, Residence Inn, SpringHill Suites, Hampton by Hilton, Hilton Garden Inn, Homewood Suites, Hyatt Place and Hyatt House, among others.