Apple Hospitality REIT (NYSE:APLE) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Apple Hospitality REIT (NYSE:APLE) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets lifted their price target on shares of 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Apple Hospitality REIT in a report on Friday, August 21st. JPMorgan Chase & Co. increased their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Compass Point raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $17.50 to $18.50 in a research note on Friday, August 7th. Finally, LADENBURG THALM/SH SH raised their target price on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.50.

Apple Hospitality REIT Trading Up 0.7%

APLE stock opened at $16.54 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $17.28. The company has a market cap of $3.90 billion, a P/E ratio of 22.35, a PEG ratio of 3.14 and a beta of 0.88. The business has a fifty day moving average of $16.51 and a 200-day moving average of $14.39.

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

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Monday, August 31st. Apple Hospitality REIT’s dividend payout ratio is currently 129.73%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in shares of 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 in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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 buying an additional 2,640 shares in the last quarter. Danske Bank A S bought a new position in shares of Apple Hospitality REIT in the third quarter valued at $36,000. Godfrey Financial Associates Inc. acquired a new position in Apple Hospitality REIT during the fourth quarter worth $43,000. Finally, Inspire Investing LLC raised its position in Apple Hospitality REIT by 2,965.1% during the first quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 3,736 shares in 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.