Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $12.92 Consensus PT from Analysts

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have earned an average recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat reports. Four equities research 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 brokerages that have updated their coverage on the stock in the last year is $12.9167.

A number of research firms have commented on APLE. Barclays initiated coverage on Apple Hospitality REIT in a research note on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Finally, Bank of America downgraded Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 target price for the company. in a research report on Tuesday, November 4th.

Apple Hospitality REIT Price Performance

Shares of APLE opened at $12.30 on Friday. The firm has a 50-day simple moving average of $12.17 and a two-hundred day simple moving average of $12.07. The stock has a market cap of $2.90 billion, a PE ratio of 16.62 and a beta of 0.81. Apple Hospitality REIT has a 1-year low of $10.44 and a 1-year high of $14.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.40 and a quick ratio of 0.40.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.16). Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%.The company had revenue of $326.44 million during the quarter, compared to analyst estimates of $322.60 million. As a group, analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be paid a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Friday, February 27th. Apple Hospitality REIT’s dividend payout ratio is presently 129.73%.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was bought at an average price of $11.91 per share, with a total value of $59,550.00. Following the transaction, the chairman directly owned 710,344 shares of the company’s stock, valued at approximately $8,460,197.04. This represents a 0.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in APLE. DGS Capital Management LLC acquired a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at $217,000. Pacer Advisors Inc. purchased a new position in Apple Hospitality REIT in the fourth quarter valued at $11,498,000. Virtu Financial LLC purchased a new position in Apple Hospitality REIT in the fourth quarter valued at $202,000. Invesco Ltd. raised its stake in Apple Hospitality REIT by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,697,962 shares of the real estate investment trust’s stock valued at $20,121,000 after buying an additional 60,126 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in Apple Hospitality REIT by 137.2% during the 4th quarter. Corient Private Wealth LLC now owns 32,166 shares of the real estate investment trust’s stock worth $381,000 after buying an additional 18,608 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

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.