Short Interest in Apple Hospitality REIT, Inc. (NYSE:APLE) Expands By 16.4%

Apple Hospitality REIT, Inc. (NYSE:APLE) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 14,160,000 shares, an increase of 16.4% from the July 15th total of 12,160,000 shares. Based on an average daily trading volume, of 2,410,000 shares, the days-to-cover ratio is presently 5.9 days.

Apple Hospitality REIT Stock Down 0.2 %

Shares of Apple Hospitality REIT stock traded down $0.03 on Friday, hitting $14.26. The company had a trading volume of 2,159,750 shares, compared to its average volume of 2,117,897. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a 50 day moving average of $14.46 and a 200-day moving average of $15.21. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 16.58 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). The company had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. During the same period in the previous year, the company posted $0.49 earnings per share. As a group, sell-side analysts forecast that Apple Hospitality REIT will post 1.4 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.73%. The ex-dividend date of this dividend was Wednesday, July 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 111.63%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wedbush assumed coverage on Apple Hospitality REIT in a research note on Monday, June 3rd. They set a “neutral” rating and a $15.00 price target on the stock. Oppenheimer lowered their target price on Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.00.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction dated Tuesday, May 21st. The stock was bought at an average price of $14.78 per share, with a total value of $73,900.00. Following the transaction, the chairman now directly owns 631,990 shares in the company, valued at approximately $9,340,812.20. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Apple Hospitality REIT by 1.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 104,284 shares of the real estate investment trust’s stock valued at $1,732,000 after purchasing an additional 1,439 shares during the period. Cerity Partners LLC raised its position in Apple Hospitality REIT by 24.9% in the fourth quarter. Cerity Partners LLC now owns 12,588 shares of the real estate investment trust’s stock worth $209,000 after acquiring an additional 2,510 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Apple Hospitality REIT during the 4th quarter valued at approximately $1,769,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Apple Hospitality REIT by 8.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 250,566 shares of the real estate investment trust’s stock worth $4,162,000 after purchasing an additional 19,309 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Apple Hospitality REIT by 1.3% during the 4th quarter. Mackenzie Financial Corp now owns 517,350 shares of the real estate investment trust’s stock worth $8,593,000 after purchasing an additional 6,839 shares during the last quarter. 89.66% of the stock is 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 and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.