Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $12.93 Consensus PT from Analysts

Apple Hospitality REIT, Inc. (NYSE:APLE) has been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $12.9286.

APLE has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Wednesday, April 22nd. LADENBURG THALM/SH SH initiated coverage on Apple Hospitality REIT in a research note on Thursday, March 26th. They set a “neutral” rating and a $13.00 price objective on the stock. Cantor Fitzgerald boosted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, Barclays lowered their price objective on Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $13.96 per share, with a total value of $69,800.00. Following the purchase, the chairman directly 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 6.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Several hedge funds have recently bought and sold shares of APLE. Royal Bank of Canada increased its holdings in Apple Hospitality REIT by 2.8% during the 1st 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 during the period. AQR Capital Management LLC increased its holdings in 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 worth $1,732,000 after purchasing an additional 72,553 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 worth $1,776,000 after purchasing an additional 6,788 shares during the period. NewEdge Advisors LLC increased its holdings in Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,814 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Apple Hospitality REIT by 10,235.7% during the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 21,495 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Up 2.5%

Shares of APLE stock opened at $14.11 on Thursday. The stock has a 50 day moving average of $12.58 and a 200 day moving average of $12.20. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock has a market cap of $3.33 billion, a P/E ratio of 19.32 and a beta of 0.88. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $14.19.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 EPS 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 analysts’ expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. As a group, sell-side analysts expect that Apple Hospitality REIT will post 1.55 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 15th. Stockholders of record on Thursday, April 30th were paid a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Thursday, April 30th. Apple Hospitality REIT’s dividend payout ratio is 131.51%.

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.