Apple Hospitality REIT (NYSE:APLE) Hits New 52-Week High – Time to Buy?

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week high on Friday. The stock traded as high as $17.42 and last traded at $17.3750, with a volume of 293,666 shares traded. The stock had previously closed at $16.86.

Wall Street Analysts Forecast Growth

APLE has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Zacks Research lowered shares of Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. LADENBURG THALM/SH SH increased their price target on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Bank of America raised their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Compass Point raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $17.50 to $18.50 in a report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.06.

Apple Hospitality REIT Trading Up 2.4%

The firm’s 50-day simple moving average is $16.03 and its 200-day simple moving average is $15.32. The firm has a market capitalization of $4.08 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 3.21 and a beta of 0.92. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. The firm had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. Equities analysts expect that Apple Hospitality REIT, Inc. will post 1.60 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 5.6%. The ex-dividend date was Wednesday, September 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 129.73%.

Institutional Trading of Apple Hospitality REIT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Centerbridge Partners L.P. boosted its stake in shares of Apple Hospitality REIT by 88.2% during the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock valued at $50,123,000 after purchasing an additional 1,982,000 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Apple Hospitality REIT in the second quarter worth $26,774,000. Rush Island Management LP purchased a new position in shares of Apple Hospitality REIT in the first quarter worth $17,143,000. Pacer Advisors Inc. bought a new stake in Apple Hospitality REIT during the 4th quarter valued at $11,498,000. Finally, SG Americas Securities LLC raised its holdings in Apple Hospitality REIT by 549.5% during the 1st quarter. SG Americas Securities LLC now owns 711,315 shares of the real estate investment trust’s stock valued at $8,187,000 after buying an additional 601,803 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a self-administered real estate investment trust focused on owning and operating upscale, select-service hotels. The company’s properties primarily operate under well-known lodging brands affiliated with Marriott International, Hilton Worldwide and Hyatt Hotels Corporation.

Apple Hospitality’s portfolio includes hotels serving business and leisure travelers in a range of urban, suburban and destination markets. Its properties are located across the United States, with a focus on geographically diverse markets and hotels that offer amenities such as guest rooms, meeting spaces, fitness facilities, swimming pools and limited food-and-beverage services.

The company was formed in 2007 and became publicly traded in 2015.