Apple Hospitality REIT, Inc. (NYSE:APLE) Short Interest Update

Apple Hospitality REIT, Inc. (NYSE:APLE) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 15,135,613 shares, a decrease of 12.1% from the December 31st total of 17,212,035 shares. Currently, 6.9% of the shares of the stock are short sold. Based on an average daily volume of 1,954,650 shares, the days-to-cover ratio is currently 7.7 days. Based on an average daily volume of 1,954,650 shares, the days-to-cover ratio is currently 7.7 days. Currently, 6.9% of the shares of the stock are short sold.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock opened at $11.81 on Wednesday. The company’s 50-day moving average price is $12.04 and its 200-day moving average price is $12.05. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.79 billion, a PE ratio of 16.18 and a beta of 0.84. Apple Hospitality REIT has a twelve month low of $10.44 and a twelve month high of $15.86.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Apple Hospitality REIT had a return on equity of 5.46% and a net margin of 12.37%.The company had revenue of $373.88 million during the quarter, compared to analyst estimates of $371.94 million. On average, equities research analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 30th will be paid a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend is Friday, January 30th. Apple Hospitality REIT’s payout ratio is presently 131.51%.

Insider Activity

In other news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were purchased at an average cost of $11.91 per share, for a total transaction of $59,550.00. Following the transaction, the chairman directly owned 710,344 shares of the company’s stock, valued at approximately $8,460,197.04. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have acquired 8,000 shares of company stock valued at $95,180 over the last three months. Corporate insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC raised its position in Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,814 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Apple Hospitality REIT by 12,230.0% in the second quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 2,446 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Apple Hospitality REIT by 444.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 2,280 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Apple Hospitality REIT by 1,375.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,640 shares during the period. Finally, Cloud Capital Management LLC bought a new position in Apple Hospitality REIT during the 3rd quarter worth about $34,000. Institutional investors own 89.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Barclays began coverage on Apple Hospitality REIT in a research report on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price objective for the company. Finally, Bank of America downgraded Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 target price on the stock. in a research report on Tuesday, November 4th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.92.

About Apple Hospitality REIT

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.