Apple Hospitality REIT (NYSE:APLE) Reaches New 1-Year Low – What’s Next?

Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week low during trading on Thursday . The company traded as low as $12.96 and last traded at $12.99, with a volume of 589790 shares traded. The stock had previously closed at $13.19.

Wall Street Analysts Forecast Growth

Several analysts recently commented on APLE shares. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their target price for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Wells Fargo & Company cut their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Finally, BMO Capital Markets began coverage on Apple Hospitality REIT in a report on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.80.

Apple Hospitality REIT Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 15.12 and a beta of 1.12. The business’s 50 day moving average is $14.61 and its 200 day moving average is $15.06.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The firm had revenue of $333.04 million during the quarter, compared to the consensus estimate of $330.11 million. Equities analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 7.47%. The ex-dividend date is Monday, March 31st. Apple Hospitality REIT’s dividend payout ratio is currently 109.09%.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Apple Hospitality REIT during the 4th quarter worth $31,000. Quarry LP grew its holdings in Apple Hospitality REIT by 128.1% during the fourth quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,751 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Apple Hospitality REIT in the fourth quarter valued at approximately $51,000. GF Fund Management CO. LTD. acquired a new stake in shares of Apple Hospitality REIT in the fourth quarter worth $64,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Apple Hospitality REIT by 80.9% during the 4th quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 2,193 shares during the period. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Company Profile

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.