Apple Hospitality REIT (NYSE:APLE) Hits New 12-Month Low - Here's Why

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.44 and last traded at $10.77, with a volume of 1606621 shares. The stock had previously closed at $10.66.

Analyst Ratings Changes

APLE has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Bank of America raised Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their price target for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Apple Hospitality REIT currently has an average rating of "Moderate Buy" and an average target price of $16.80.

Apple Hospitality REIT Stock Up 0.4 %

The company has a market cap of $2.75 billion, a P/E ratio of 13.55 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The business's 50 day moving average price is $13.76 and its 200-day moving average price is $14.82.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $333.04 million during the quarter, compared to the consensus estimate 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, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 8.33%. The ex-dividend date of this dividend is Monday, March 31st. Apple Hospitality REIT's payout ratio is presently 109.09%.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of large investors have recently modified their holdings of the stock. Norges Bank bought a new position in Apple Hospitality REIT in the 4th quarter worth approximately $21,099,000. Charles Schwab Investment Management Inc. raised its position in shares of Apple Hospitality REIT by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust's stock worth $70,465,000 after acquiring an additional 133,505 shares during the last quarter. Barclays PLC lifted its stake in shares of Apple Hospitality REIT by 118.8% during the third quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust's stock valued at $6,273,000 after acquiring an additional 229,293 shares during the period. KBC Group NV boosted its holdings in 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 acquiring an additional 2,541 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Apple Hospitality REIT in the fourth quarter worth about $3,844,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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.