Apple Hospitality REIT, Inc. (NYSE:APLE) Stock Has Consensus Price Target of $17.31 According to Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have received an average recommendation of “Hold” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $17.69.

Several research analysts recently commented on the stock. Compass Point upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their price target for the company from $17.50 to $18.50 in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday. Bank of America boosted their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Apple Hospitality REIT in a research report on Tuesday, November 3rd. Finally, Wells Fargo & Company raised their target price on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of APLE. Compass Financial Management LLC purchased a new stake in shares of Apple Hospitality REIT in the second quarter worth about $56,000. Nykredit A S acquired a new position in Apple Hospitality REIT during the 2nd quarter worth approximately $62,000. Allworth Financial LP lifted its position in Apple Hospitality REIT by 69.7% during the 2nd quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 1,569 shares in the last quarter. Palouse Capital Management Inc. lifted its position 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 acquiring an additional 750 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Apple Hospitality REIT by 35.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,949 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 1,813 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

APLE stock opened at $19.60 on Thursday. The stock has a 50-day moving average price of $16.78 and a two-hundred day moving average price of $14.84. Apple Hospitality REIT has a 12-month low of $11.31 and a 12-month high of $19.82. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.51. The company has a market cap of $4.63 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.93.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. The company had revenue of $398.33 million during the quarter, compared to analyst estimates of $384.64 million. As a group, research analysts predict that Apple Hospitality REIT will post 1.63 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 4.9%. The ex-dividend date is Friday, October 30th. Apple Hospitality REIT’s dividend payout ratio is currently 121.52%.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc is a real estate investment trust that owns a portfolio of hotels in the United States. Its properties primarily serve business and leisure travelers and operate in the upscale segment, including select-service and extended-stay formats.

The company’s hotels are affiliated with well-known hospitality brands, including Marriott, Hilton and Hyatt. Apple Hospitality REIT owns the real estate and works with hotel operators to manage day-to-day operations.

Formed in 2007, the company is headquartered in Richmond, Virginia.