Brokerages Set Apple Hospitality REIT, Inc. (NYSE:APLE) PT at $16.60

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $16.60.

Several brokerages have commented on APLE. Oppenheimer reiterated an "outperform" rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Bank of America upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and raised their target price for the company from $16.00 to $17.00 in a research note on Monday. BMO Capital Markets started coverage on Apple Hospitality REIT in a report on Monday, December 9th. They set an "outperform" rating and a $18.00 price objective on the stock. Finally, StockNews.com raised Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research note on Friday, November 22nd.

Hedge Funds Weigh In On Apple Hospitality REIT

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP raised its stake in Apple Hospitality REIT by 127.5% during the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust's stock worth $33,000 after buying an additional 1,290 shares during the last quarter. GAMMA Investing LLC grew its stake in Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 780 shares during the period. Covestor Ltd lifted its holdings in shares of Apple Hospitality REIT by 30.0% in the 3rd quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust's stock worth $118,000 after purchasing an additional 1,831 shares in the last quarter. KBC Group NV grew its position in Apple Hospitality REIT by 37.8% in the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust's stock valued at $142,000 after purchasing an additional 2,541 shares during the period. Finally, Entropy Technologies LP bought a new stake in Apple Hospitality REIT during the 4th quarter valued at $159,000. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Trading Down 0.3 %

Apple Hospitality REIT stock traded down $0.05 during trading on Tuesday, hitting $15.40. The company's stock had a trading volume of 672,114 shares, compared to its average volume of 1,693,107. The stock's fifty day moving average is $15.55 and its 200 day moving average is $15.05. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 18.11 and a beta of 1.13. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $16.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The company had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. During the same period in the previous year, the business posted $0.45 EPS. As a group, equities research analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a $0.08 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.24%. Apple Hospitality REIT's dividend payout ratio is 112.94%.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc NYSE: APLE is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.