Apple Hospitality REIT, Inc. (NYSE:APLE) Sees Large Increase in Short Interest

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 8,450,000 shares, a growth of 12.7% from the December 31st total of 7,500,000 shares. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is presently 4.8 days. Currently, 3.8% of the shares of the company are short sold.

Apple Hospitality REIT Stock Performance

NYSE:APLE traded down $0.21 during trading hours on Friday, hitting $15.65. 1,300,231 shares of the company traded hands, compared to its average volume of 1,661,868. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 18.41 and a beta of 1.13. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $16.99. The firm has a 50-day moving average of $15.48 and a 200 day moving average of $15.07.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). The firm had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared 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. This represents a $0.96 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date of this dividend is Friday, January 31st. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 112.94%.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP raised its position in Apple Hospitality REIT by 127.5% in the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 1,290 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Apple Hospitality REIT by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 780 shares during the period. Covestor Ltd raised its position in shares of Apple Hospitality REIT by 30.0% during the third 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 during the period. KBC Group NV lifted its stake in shares of Apple Hospitality REIT by 37.8% in the fourth quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust's stock valued at $142,000 after buying an additional 2,541 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Apple Hospitality REIT in the fourth quarter valued at approximately $159,000. Institutional investors and hedge funds own 89.66% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on APLE shares. BMO Capital Markets initiated coverage on Apple Hospitality REIT in a report on Monday, December 9th. They issued an "outperform" rating and a $18.00 price target on the stock. StockNews.com raised shares of Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research report on Friday, November 22nd. Oppenheimer reaffirmed an "outperform" rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, Bank of America raised shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and upped their price target for the company from $16.00 to $17.00 in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Apple Hospitality REIT currently has an average rating of "Moderate Buy" and a consensus target price of $16.60.

Apple Hospitality REIT Company Profile

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.