Apple Hospitality REIT, Inc. (NYSE:APLE) Given Consensus Rating of “Hold” by Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have earned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $16.00.

Several equities research analysts have commented on APLE shares. BMO Capital Markets upped their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, June 12th. Zacks Research raised Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. LADENBURG THALM/SH SH raised their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Barclays reiterated an “equal weight” rating and issued a $17.00 price objective (up from $16.00) on shares of Apple Hospitality REIT in a research report on Tuesday, July 21st. Finally, Bank of America increased their target price on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th.

Apple Hospitality REIT Stock Performance

APLE stock opened at $16.88 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $17.13. The company has a market cap of $3.98 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 3.29 and a beta of 0.87. The business’s fifty day moving average is $16.06 and its 200-day moving average is $13.70.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results 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. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The company had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. Equities research analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 31st will be issued a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, July 31st. Apple Hospitality REIT’s dividend payout ratio is 131.51%.

Insider Activity

In related news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the transaction, the chairman directly owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLE. Palouse Capital Management Inc. boosted its position in shares of Apple Hospitality REIT by 21.1% during the second quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 750 shares during the period. GAMMA Investing LLC lifted its stake in Apple Hospitality REIT by 15.5% in the 2nd quarter. GAMMA Investing LLC now owns 11,552 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 1,548 shares in the last quarter. Cozad Asset Management Inc. lifted its stake in Apple Hospitality REIT by 20.1% in the 1st quarter. Cozad Asset Management Inc. now owns 97,244 shares of the real estate investment trust’s stock valued at $1,119,000 after acquiring an additional 16,269 shares in the last quarter. Bank of America Corp DE boosted its position in Apple Hospitality REIT by 6.0% during the 1st quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust’s stock worth $23,585,000 after acquiring an additional 115,575 shares during the last quarter. Finally, Amundi boosted its position in Apple Hospitality REIT by 2.8% during the 1st quarter. Amundi now owns 155,765 shares of the real estate investment trust’s stock worth $1,793,000 after acquiring an additional 4,200 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

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.