Apple Hospitality REIT, Inc. (NYSE:APLE) Sees Large Decline in Short Interest

Apple Hospitality REIT, Inc. (NYSE:APLE) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 6,860,000 shares, a decrease of 20.0% from the February 28th total of 8,580,000 shares. Based on an average daily volume of 2,190,000 shares, the short-interest ratio is currently 3.1 days. Approximately 3.1% of the shares of the company are sold short.

Apple Hospitality REIT Stock Performance

APLE remained flat at $12.92 during trading on Wednesday. 4,532,150 shares of the company’s stock were exchanged, compared to its average volume of 2,082,091. The stock has a market capitalization of $3.10 billion, a P/E ratio of 15.20 and a beta of 1.12. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a twelve month low of $12.65 and a twelve month high of $16.50. The business’s 50-day simple moving average is $14.52 and its two-hundred day simple moving average is $15.05.

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

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 7.43%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 109.09%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Apple Hospitality REIT

Several institutional investors have recently modified their holdings of APLE. Aster Capital Management DIFC Ltd bought a new stake in Apple Hospitality REIT in the fourth quarter worth $31,000. Quarry LP raised its stake in shares of Apple Hospitality REIT by 128.1% in the fourth quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 1,751 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of Apple Hospitality REIT in the 4th quarter worth about $51,000. GF Fund Management CO. LTD. purchased a new position in shares of Apple Hospitality REIT during the 4th quarter worth about $64,000. Finally, GAMMA Investing LLC grew its holdings in 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 valued at $75,000 after purchasing an additional 2,193 shares during the last quarter. 89.66% of the stock is owned by 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.