Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $12.70 Average PT from Analysts

Apple Hospitality REIT, Inc. (NYSE:APLE) has received a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $12.70.

A number of analysts recently issued reports on the company. Cantor Fitzgerald initiated coverage on Apple Hospitality REIT in a research report on Wednesday, October 1st. They set an “overweight” rating and a $14.00 price objective for the company. Wells Fargo & Company raised shares of Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Robert W. Baird lowered their price objective on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Bank of America downgraded shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price objective for the company. in a research report on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Apple Hospitality REIT in a research report on Thursday, October 30th.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $12.17 on Monday. The company has a fifty day moving average of $11.70 and a two-hundred day moving average of $12.00. Apple Hospitality REIT has a fifty-two week low of $10.44 and a fifty-two week high of $16.01. The stock has a market capitalization of $2.88 billion, a PE ratio of 16.66 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.06 and a current ratio of 0.06.

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

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend is Wednesday, December 31st. Apple Hospitality REIT’s dividend payout ratio is currently 131.51%.

Insider Buying and Selling

In related news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were bought at an average cost of $11.91 per share, for a total transaction of $59,550.00. Following the transaction, the chairman 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 legal filing with the SEC, which is available through this link. Insiders acquired a total of 8,000 shares of company stock valued at $95,180 over the last three months. 7.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Centerbridge Partners L.P. acquired a new stake in shares of Apple Hospitality REIT in the 2nd quarter worth approximately $22,147,000. UBS Group AG increased its holdings in Apple Hospitality REIT by 94.3% during the 3rd quarter. UBS Group AG now owns 2,935,463 shares of the real estate investment trust’s stock valued at $35,255,000 after acquiring an additional 1,424,287 shares in the last quarter. Norges Bank purchased a new stake in shares of Apple Hospitality REIT in the second quarter valued at about $15,614,000. Arrowstreet Capital Limited Partnership grew its position in shares of Apple Hospitality REIT by 285.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,350,787 shares of the real estate investment trust’s stock valued at $15,764,000 after purchasing an additional 1,000,214 shares during the last quarter. Finally, Edgestream Partners L.P. raised its position in shares of Apple Hospitality REIT by 493.1% during the 2nd quarter. Edgestream Partners L.P. now owns 982,159 shares of the real estate investment trust’s stock worth $11,462,000 after purchasing an additional 816,574 shares during the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

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.