Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $16.50 Consensus PT from Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

APLE has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Apple Hospitality REIT in a research report on Friday, August 21st. Zacks Research raised Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their target price on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Wells Fargo & Company boosted their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, BMO Capital Markets upped their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, June 12th.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Apple Hospitality REIT by 2.8% in the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock worth $2,205,000 after purchasing an additional 4,712 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Apple Hospitality REIT by 114.3% during the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock valued at $1,732,000 after buying an additional 72,553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Apple Hospitality REIT by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock valued at $1,776,000 after buying an additional 6,788 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,814 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in Apple Hospitality REIT by 10,235.7% in the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 21,495 shares during the period. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

APLE opened at $16.56 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.51. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 3.20 and a beta of 0.88. The company’s 50 day moving average is $16.52 and its 200 day moving average is $14.34. Apple Hospitality REIT has a 12-month low of $10.85 and a 12-month high of $17.28.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. The business had revenue of $402.55 million during the quarter, compared to analysts’ expectations of $391.88 million. On average, equities research analysts predict that Apple Hospitality REIT will post 1.64 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.08 dividend. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Monday, August 31st. Apple Hospitality REIT’s dividend payout ratio is currently 129.73%.

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.