Apple Hospitality REIT (NYSE:APLE) Price Target Raised to $18.00

Apple Hospitality REIT (NYSE:APLE) had its price objective hoisted by JPMorgan Chase & Co. from $17.00 to $18.00 in a report issued on Monday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

A number of other analysts have also recently weighed in on APLE. Wells Fargo & Company boosted their price objective on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, October 26th. Bank of America raised their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Zacks Research downgraded shares of Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Apple Hospitality REIT in a research report on Tuesday, November 3rd. Finally, Compass Point raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $17.50 to $18.50 in a research report on Friday, August 7th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.19.

Apple Hospitality REIT Stock Down 1.8%

Apple Hospitality REIT stock opened at $19.79 on Monday. Apple Hospitality REIT has a twelve month low of $11.31 and a twelve month high of $20.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $4.67 billion, a PE ratio of 25.06, a P/E/G ratio of 2.13 and a beta of 0.93. The firm’s 50 day moving average price is $16.94 and its two-hundred day moving average price is $14.92.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $398.33 million for the quarter, compared to the consensus estimate of $384.64 million. Apple Hospitality REIT had a return on equity of 5.88% and a net margin of 12.62%. On average, research analysts predict that Apple Hospitality REIT will post 1.63 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 30th will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Friday, October 30th. Apple Hospitality REIT’s dividend payout ratio is 121.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Compass Financial Management LLC acquired a new position in Apple Hospitality REIT in the second quarter worth $56,000. Nykredit A S acquired a new position in shares of Apple Hospitality REIT during the second quarter worth approximately $62,000. Allworth Financial LP lifted its position in shares of Apple Hospitality REIT by 69.7% during the second quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 1,569 shares in the last quarter. Palouse Capital Management Inc. lifted its holdings in Apple Hospitality REIT by 21.1% during the 2nd quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 750 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of Apple Hospitality REIT by 35.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,949 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 1,813 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc. is a real estate investment trust that owns a portfolio of hotels in the United States. Its properties primarily serve business and leisure travelers and operate in the upscale segment, including select-service and extended-stay formats. The company’s hotels are affiliated with well-known hospitality brands, including Marriott, Hilton and Hyatt. Apple Hospitality REIT owns the real estate and works with hotel operators to manage day-to-day operations. Formed in 2007, the company is headquartered in Richmond, Virginia.