Brokerages Set Apple Hospitality REIT, Inc. (NYSE:APLE) PT at $16.80

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $16.80.

Several equities analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. BMO Capital Markets started coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They set an "outperform" rating and a $18.00 price target on the stock. StockNews.com raised Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research note on Friday, November 22nd. Finally, Bank of America raised Apple Hospitality REIT from a "neutral" rating to a "buy" rating and increased their target price for the stock from $16.00 to $17.00 in a research note on Monday, January 27th.

Apple Hospitality REIT Trading Down 1.5 %

Apple Hospitality REIT stock traded down $0.21 during mid-day trading on Wednesday, hitting $13.31. The company's stock had a trading volume of 4,399,846 shares, compared to its average volume of 1,940,244. The stock's fifty day moving average is $14.79 and its two-hundred day moving average is $15.09. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $3.19 billion, a PE ratio of 15.65 and a beta of 1.12. Apple Hospitality REIT has a 1 year low of $13.01 and a 1 year high of $16.83.

Remove Ads

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. The business had revenue of $333.04 million during the quarter, compared to analysts' expectations of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. On average, analysts anticipate that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.08 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 7.22%. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 109.09%.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of hedge funds have recently bought and sold shares of APLE. Price T Rowe Associates Inc. MD increased its stake in shares of Apple Hospitality REIT by 27.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust's stock worth $126,472,000 after buying an additional 1,761,996 shares during the period. Norges Bank acquired a new position in Apple Hospitality REIT during the 4th quarter worth approximately $21,099,000. ExodusPoint Capital Management LP increased its position in shares of Apple Hospitality REIT by 126.8% in the 4th quarter. ExodusPoint Capital Management LP now owns 899,842 shares of the real estate investment trust's stock valued at $13,813,000 after purchasing an additional 503,114 shares during the last quarter. Woodline Partners LP acquired a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at $5,898,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Apple Hospitality REIT during the 4th quarter worth $5,451,000. Institutional investors and hedge funds own 89.66% of the company's stock.

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.