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

Apple Hospitality REIT, Inc. (NYSE:APLE)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $16.88 and last traded at $16.6150, with a volume of 2402822 shares changing hands. The stock had previously closed at $16.59.

Analyst Upgrades and Downgrades

APLE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. assumed coverage on Apple Hospitality REIT in a report on Monday, June 1st. They set a “neutral” rating and a $15.00 price target for the company. Weiss Ratings raised Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. BMO Capital Markets boosted their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, June 12th. Cantor Fitzgerald increased their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Finally, Barclays raised their price target on Apple Hospitality REIT from $13.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.94.

Apple Hospitality REIT Stock Performance

The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 8.10 and a beta of 0.89. The stock’s 50 day moving average is $14.39 and its 200 day moving average is $12.87. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54.

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

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. 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 company’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $13.96 per share, with a total value of $69,800.00. Following the acquisition, the chairman owned 747,191 shares in the company, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC lifted its holdings in shares of Apple Hospitality REIT by 7.9% during the third quarter. Private Advisor Group LLC now owns 13,883 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 1,022 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Apple Hospitality REIT by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock worth $2,764,000 after acquiring an additional 1,068 shares during the period. MML Investors Services LLC grew its position in shares of Apple Hospitality REIT by 1.4% during the 2nd quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 1,100 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Apple Hospitality REIT by 9.3% during the 4th quarter. Captrust Financial Advisors now owns 13,519 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 1,149 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Apple Hospitality REIT by 16.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,316 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 1,160 shares during the period. Institutional investors own 89.66% of the company’s stock.

About Apple Hospitality REIT

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.