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

Apple Hospitality REIT, Inc. (NYSE:APLE) has received a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $12.70.

Several research firms have commented on APLE. Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Bank of America downgraded Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price objective for the company. in a research note on Tuesday, November 4th. Cantor Fitzgerald started coverage on shares of Apple Hospitality REIT in a research report on Wednesday, October 1st. They set an “overweight” rating and a $14.00 target price on the stock. Robert W. Baird reduced their target price on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Apple Hospitality REIT in a research report on Thursday, October 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC lifted its stake in shares of Apple Hospitality REIT by 36.4% in the first quarter. Private Advisor Group LLC now owns 16,030 shares of the real estate investment trust’s stock worth $207,000 after acquiring an additional 4,277 shares during the period. Allianz Asset Management GmbH grew its stake in Apple Hospitality REIT by 59.3% in the first quarter. Allianz Asset Management GmbH now owns 1,452,584 shares of the real estate investment trust’s stock valued at $18,753,000 after acquiring an additional 540,957 shares during the period. Y Intercept Hong Kong Ltd increased its position in shares of Apple Hospitality REIT by 144.8% during the first quarter. Y Intercept Hong Kong Ltd now owns 68,245 shares of the real estate investment trust’s stock worth $881,000 after acquiring an additional 40,366 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Apple Hospitality REIT by 0.7% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 281,711 shares of the real estate investment trust’s stock worth $3,637,000 after buying an additional 2,038 shares in the last quarter. Finally, Burney Co. grew its position in Apple Hospitality REIT by 6.4% in the 1st quarter. Burney Co. now owns 41,644 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 2,507 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Down 0.0%

Shares of NYSE:APLE opened at $12.00 on Thursday. The company has a fifty day moving average of $11.73 and a 200-day moving average of $11.99. The company has a market capitalization of $2.84 billion, a PE ratio of 15.99 and a beta of 1.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 0.78. Apple Hospitality REIT has a 52-week low of $10.44 and a 52-week high of $16.43.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $373.88 million for the quarter, compared to the consensus estimate of $371.94 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. On average, equities analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 8.0%. The ex-dividend date is Friday, November 28th. Apple Hospitality REIT’s dividend payout ratio is presently 131.51%.

About Apple Hospitality REIT

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.