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

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have received a consensus recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $16.50.

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Apple Hospitality REIT in a research report on Friday, August 21st. LADENBURG THALM/SH SH upped their price target on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. BMO Capital Markets increased their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Finally, Compass Point upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $17.50 to $18.50 in a research report on Friday, August 7th.

Apple Hospitality REIT Trading Down 0.3%

Shares of NYSE APLE opened at $15.44 on Wednesday. Apple Hospitality REIT has a 1-year low of $10.85 and a 1-year high of $17.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73. The business’s 50 day moving average is $16.25 and its two-hundred day moving average is $14.68. The stock has a market capitalization of $3.64 billion, a P/E ratio of 20.86, a PEG ratio of 3.03 and a beta of 0.88.

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, topping analysts’ consensus estimates of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%.The firm had revenue of $402.55 million during the quarter, compared to analysts’ expectations of $391.88 million. As a group, research analysts expect that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were issued a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Monday, August 31st. Apple Hospitality REIT’s dividend payout ratio is presently 129.73%.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of large investors have recently bought and sold shares of the business. Engineers Gate Manager LP purchased a new position in Apple Hospitality REIT in the 2nd quarter worth about $268,000. Integrated Wealth Concepts LLC purchased a new stake in Apple Hospitality REIT in the 2nd quarter valued at about $148,000. Baird Financial Group Inc. boosted its position in Apple Hospitality REIT by 2.2% in the 2nd quarter. Baird Financial Group Inc. now owns 164,946 shares of the real estate investment trust’s stock valued at $2,773,000 after buying an additional 3,497 shares during the period. Allworth Financial LP grew its stake in Apple Hospitality REIT by 69.7% in the 2nd quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 1,569 shares in the last quarter. Finally, Nykredit A S bought a new position in Apple Hospitality REIT in the 2nd quarter worth about $62,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a real estate investment trust that owns a portfolio of upscale, select-service and extended-stay hotels across the United States. The company generates revenue primarily through hotel operations, including room accommodations, food and beverage services, and other guest services.

Its properties operate under well-known hotel brands, including Marriott, Hilton and Hyatt. The portfolio includes brands such as Courtyard by Marriott, Fairfield by Marriott, Residence Inn, SpringHill Suites, Hampton by Hilton, Hilton Garden Inn, Homewood Suites, Hyatt Place and Hyatt House, among others.