Apple Hospitality REIT, Inc. (NYSE:APLE) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have earned an average recommendation of “Hold” from the ten research firms that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $17.06.

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Apple Hospitality REIT in a research report on Friday, August 21st. JPMorgan Chase & Co. raised their price target on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Wells Fargo & Company upped their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Zacks Research lowered Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Finally, 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 report on Monday, July 20th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Centerbridge Partners L.P. boosted its holdings in Apple Hospitality REIT by 88.2% in the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock worth $50,123,000 after acquiring an additional 1,982,000 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Apple Hospitality REIT by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,254,332 shares of the real estate investment trust’s stock valued at $37,458,000 after purchasing an additional 56,555 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Apple Hospitality REIT in the second quarter valued at about $26,774,000. Bank of America Corp DE boosted its position in Apple Hospitality REIT by 6.0% in the first quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust’s stock valued at $23,585,000 after buying an additional 115,575 shares during the last quarter. Finally, Rush Island Management LP acquired a new position in Apple Hospitality REIT in the 1st quarter worth approximately $17,143,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Up 1.2%

Shares of Apple Hospitality REIT stock opened at $17.07 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 3.34 and a beta of 0.92. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $17.48. The business has a 50-day moving average price of $16.05 and a 200-day moving average price of $15.34.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. The firm had revenue of $402.55 million during the quarter, compared to analyst estimates of $391.88 million. Equities research analysts anticipate that Apple Hospitality REIT will post 1.60 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $0.08 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.6%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 129.73%.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a self-administered real estate investment trust focused on owning and operating upscale, select-service hotels. The company’s properties primarily operate under well-known lodging brands affiliated with Marriott International, Hilton Worldwide and Hyatt Hotels Corporation.

Apple Hospitality’s portfolio includes hotels serving business and leisure travelers in a range of urban, suburban and destination markets. Its properties are located across the United States, with a focus on geographically diverse markets and hotels that offer amenities such as guest rooms, meeting spaces, fitness facilities, swimming pools and limited food-and-beverage services.

The company was formed in 2007 and became publicly traded in 2015.