Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $12.96 and last traded at $12.99, with a volume of 589790 shares. The stock had previously closed at $13.19.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on APLE shares. Bank of America upgraded shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Wells Fargo & Company decreased their target price on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, BMO Capital Markets began coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an "outperform" rating and a $18.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of "Moderate Buy" and an average price target of $16.80.
Check Out Our Latest Analysis on Apple Hospitality REIT
Apple Hospitality REIT Price Performance
The company's fifty day moving average is $14.61 and its two-hundred day moving average is $15.07. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 15.19 and a beta of 1.12.
Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The company had revenue of $333.04 million during the quarter, compared to analysts' expectations of $330.11 million. Equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.
Apple Hospitality REIT Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.43%. Apple Hospitality REIT's dividend payout ratio is 109.09%.
Institutional Trading of Apple Hospitality REIT
Several hedge funds have recently added to or reduced their stakes in APLE. Price T Rowe Associates Inc. MD lifted its stake in Apple Hospitality REIT by 27.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust's stock valued at $126,472,000 after buying an additional 1,761,996 shares in the last quarter. Norges Bank bought a new stake in Apple Hospitality REIT in the 4th quarter valued at $21,099,000. ExodusPoint Capital Management LP boosted its stake in 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 worth $13,813,000 after purchasing an additional 503,114 shares during the period. Woodline Partners LP bought a new position in Apple Hospitality REIT during the 4th quarter worth about $5,898,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at about $5,451,000. Institutional investors and hedge funds own 89.66% of the company's stock.
About Apple Hospitality REIT
(
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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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