Apple Hospitality REIT, Inc. (NYSE:APLE) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) have received an average recommendation of "Moderate Buy" from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $16.80.

APLE has been the subject of a number of analyst reports. Bank of America raised Apple Hospitality REIT from a "neutral" rating to a "buy" rating and increased their price objective for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Tuesday. Oppenheimer reissued an "outperform" rating and set a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. StockNews.com raised Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research note on Friday, November 22nd. Finally, BMO Capital Markets initiated coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They set an "outperform" rating and a $18.00 price objective for the company.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $14.79 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $16.99. The business has a 50 day moving average of $15.29 and a 200 day moving average of $15.11. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 17.39 and a beta of 1.13.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.49%. Apple Hospitality REIT's dividend payout ratio is presently 112.94%.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in APLE. Creative Planning raised its holdings in shares of Apple Hospitality REIT by 14.1% during the third quarter. Creative Planning now owns 29,059 shares of the real estate investment trust's stock valued at $432,000 after acquiring an additional 3,580 shares in the last quarter. Blue Trust Inc. raised its holdings in Apple Hospitality REIT by 21.3% in the third quarter. Blue Trust Inc. now owns 11,716 shares of the real estate investment trust's stock worth $170,000 after purchasing an additional 2,059 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Apple Hospitality REIT by 28.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,262 shares of the real estate investment trust's stock worth $171,000 after purchasing an additional 2,506 shares in the last quarter. NorthCrest Asset Manangement LLC bought a new position in Apple Hospitality REIT in the third quarter worth $176,000. Finally, Ellis Investment Partners LLC raised its holdings in Apple Hospitality REIT by 4.6% in the third quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust's stock worth $318,000 after purchasing an additional 948 shares in the last quarter. Institutional investors 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.

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