Apple Hospitality REIT (NYSE:APLE) Reaches New 52-Week Low - Should You Sell?

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) reached a new 52-week low during trading on Friday . The company traded as low as $13.01 and last traded at $13.12, with a volume of 576467 shares. The stock had previously closed at $13.51.

Analyst Upgrades and Downgrades

Several research firms have weighed in on APLE. Bank of America upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and upped their price target for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They set an "outperform" rating and a $18.00 target price for the company. Finally, Wells Fargo & Company decreased 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 note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Apple Hospitality REIT currently has a consensus rating of "Moderate Buy" and an average target price 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 firm's 50-day moving average is $14.74 and its two-hundred day moving average is $15.09. The company has a market cap of $3.17 billion, a P/E ratio of 15.55 and a beta of 1.12.

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Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its earnings results 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 for the quarter, compared to analysts' expectations of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. Analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 7.26%. The ex-dividend date is Monday, March 31st. Apple Hospitality REIT's payout ratio is 109.09%.

Hedge Funds Weigh In On Apple Hospitality REIT

Several large investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new position in Apple Hospitality REIT during the fourth quarter worth $31,000. Quarry LP lifted its holdings in shares of Apple Hospitality REIT by 128.1% in the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 1,751 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of Apple Hospitality REIT during the 4th quarter worth about $51,000. GF Fund Management CO. LTD. purchased a new stake in Apple Hospitality REIT in the 4th quarter worth about $64,000. Finally, GAMMA Investing LLC raised its position in Apple Hospitality REIT by 80.9% in the 4th quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 2,193 shares during the period. Institutional investors own 89.66% of the company's stock.

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.