Apple Hospitality REIT (NYSE:APLE) Hits New 12-Month High – Should You Buy?

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $16.04 and last traded at $15.8750, with a volume of 2947094 shares traded. The stock had previously closed at $15.92.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on APLE shares. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Wells Fargo & Company increased their price objective on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Cantor Fitzgerald increased their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. started coverage on shares of Apple Hospitality REIT in a research report on Monday, June 1st. They set a “neutral” rating and a $15.00 price objective for the company. Finally, Barclays increased their price objective on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.21.

Apple Hospitality REIT Trading Down 0.3%

The firm has a market cap of $3.75 billion, a P/E ratio of 21.75, a P/E/G ratio of 7.78 and a beta of 0.89. The business’s 50-day moving average is $13.65 and its two-hundred day moving average is $12.62. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. As a group, analysts predict that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 6.0%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 131.51%.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the purchase, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. The trade was a 0.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.90% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 1,814 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Apple Hospitality REIT by 1,375.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 2,640 shares during the last quarter. Danske Bank A S acquired a new stake in Apple Hospitality REIT in the third quarter valued at $36,000. Godfrey Financial Associates Inc. acquired a new stake in Apple Hospitality REIT in the fourth quarter valued at $43,000. Finally, Smartleaf Asset Management LLC lifted its stake in Apple Hospitality REIT by 97.5% in the second quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,872 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.