Apple Hospitality REIT Inc (NYSE:APLE) Receives $17.50 Average Target Price from Analysts
Shares of Apple Hospitality REIT Inc (NYSE:APLE) have earned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $17.50.
A number of equities research analysts have commented on the company. Zacks Investment Research cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays upgraded Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, August 12th. Finally, Capital One Financial assumed coverage on Apple Hospitality REIT in a research note on Tuesday, June 25th. They issued an “equal weight” rating and a $17.00 price target for the company.
Apple Hospitality REIT stock traded up $0.01 during midday trading on Friday, reaching $16.34. The company’s stock had a trading volume of 1,022,460 shares, compared to its average volume of 1,173,295. The stock’s 50-day simple moving average is $15.68 and its 200-day simple moving average is $16.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.04 and a quick ratio of 0.04. Apple Hospitality REIT has a 52-week low of $13.81 and a 52-week high of $17.75. The stock has a market capitalization of $3.68 billion, a P/E ratio of 9.50, a PEG ratio of 2.00 and a beta of 0.80.
The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend is Friday, August 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 69.77%.
In other news, Director Redd Hugh acquired 2,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.55 per share, with a total value of $31,100.00. Following the completion of the acquisition, the director now owns 95,154 shares of the company’s stock, valued at $1,479,644.70. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $15.39 per share, for a total transaction of $76,950.00. Following the completion of the acquisition, the insider now directly owns 10,133,812 shares of the company’s stock, valued at approximately $155,959,366.68. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 112,879 shares of company stock valued at $864,026. 6.50% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in APLE. Penserra Capital Management LLC acquired a new position in shares of Apple Hospitality REIT in the first quarter valued at about $37,000. Point72 Hong Kong Ltd increased its holdings in shares of Apple Hospitality REIT by 159.6% in the second quarter. Point72 Hong Kong Ltd now owns 2,355 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 1,448 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Apple Hospitality REIT by 113.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,386 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,267 shares during the period. AGF Investments LLC increased its holdings in shares of Apple Hospitality REIT by 72.9% in the second quarter. AGF Investments LLC now owns 2,471 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,042 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Apple Hospitality REIT by 353.3% in the first quarter. Quadrant Capital Group LLC now owns 3,400 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 2,650 shares during the period. 59.18% of the stock is currently owned by institutional investors and hedge funds.
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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.
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