Apple Hospitality REIT (NYSE:APLE) Sets New 1-Year Low - Here's What Happened

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $11.86 and last traded at $11.92, with a volume of 1232767 shares changing hands. The stock had previously closed at $12.90.

Wall Street Analyst Weigh In

A number of analysts have weighed in on APLE shares. BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They set an "outperform" rating and a $18.00 target price for the company. Bank of America raised shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Finally, 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 on the stock in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Apple Hospitality REIT currently has a consensus rating of "Moderate Buy" and an average price target of $16.80.

Apple Hospitality REIT Price Performance

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 stock has a market cap of $2.55 billion, a PE ratio of 12.52 and a beta of 1.00. The firm's 50 day moving average price is $14.05 and its two-hundred day moving average price is $14.91.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $333.04 million for the quarter, compared to the consensus estimate of $330.11 million. On average, research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 9.02%. Apple Hospitality REIT's payout ratio is presently 109.09%.

Institutional Investors Weigh In On Apple Hospitality REIT

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Apple Hospitality REIT by 1,133.9% in the 1st quarter. GAMMA Investing LLC now owns 60,522 shares of the real estate investment trust's stock worth $7,810,000 after buying an additional 55,617 shares in the last quarter. Versant Capital Management Inc grew its stake in Apple Hospitality REIT by 569.5% during the 1st quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust's stock worth $36,000 after buying an additional 2,386 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Apple Hospitality REIT in the 4th quarter worth $255,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Apple Hospitality REIT during the fourth quarter worth $4,293,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Apple Hospitality REIT during the fourth quarter valued at $64,000. 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.