Apple Hospitality REIT Inc (APLE) Receives $19.75 Average Target Price from Brokerages

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Shares of Apple Hospitality REIT Inc (NYSE:APLE) have been assigned an average rating of “Hold” from the nine analysts that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $19.75.

Several equities analysts have commented on the stock. B. Riley set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a “hold” rating in a research note on Tuesday, May 8th. ValuEngine cut shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, March 27th. TheStreet raised shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Friday, May 18th. Finally, Robert W. Baird set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a “buy” rating in a research note on Monday, February 26th.

Apple Hospitality REIT stock traded up $0.13 during trading hours on Monday, hitting $18.70. 13,496 shares of the company traded hands, compared to its average volume of 1,404,039. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 2.15 and a beta of 0.67. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.14. Apple Hospitality REIT has a 1-year low of $16.72 and a 1-year high of $20.19.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.21). The company had revenue of $298.40 million for the quarter, compared to analyst estimates of $299.89 million. Apple Hospitality REIT had a net margin of 15.30% and a return on equity of 5.38%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. research analysts expect that Apple Hospitality REIT will post 1.75 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 18th. Stockholders of record on Monday, June 4th will be paid a $0.10 dividend. The ex-dividend date is Friday, June 1st. This represents a $1.20 annualized dividend and a dividend yield of 6.42%. Apple Hospitality REIT’s dividend payout ratio is currently 68.97%.

In other Apple Hospitality REIT news, insider Glade M. Knight acquired 5,000 shares of the stock in a transaction dated Monday, May 14th. The shares were bought at an average price of $18.52 per share, with a total value of $92,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE grew its stake in shares of Apple Hospitality REIT by 132.3% in the 4th quarter. US Bancorp DE now owns 5,479 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 3,120 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Apple Hospitality REIT in the 1st quarter worth approximately $176,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Apple Hospitality REIT in the 4th quarter worth approximately $213,000. Public Employees Retirement Association of Colorado grew its stake in shares of Apple Hospitality REIT by 67.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 11,071 shares of the real estate investment trust’s stock worth $217,000 after purchasing an additional 4,468 shares during the last quarter. Finally, Evermay Wealth Management LLC acquired a new position in shares of Apple Hospitality REIT in the 4th quarter worth approximately $218,000. 55.98% of the stock is currently owned by institutional investors.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states.

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