Zacks Investment Research cut shares of Apple Hospitality REIT (NYSE:APLE) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Apple Hospitality REIT, Inc. is a real estate investment trust. Its portfolio consists of hotels, guest rooms and resorts. The company operates primarily in the United States. Apple Hospitality REIT, Inc. is headquarted in Richmond, VA. “

A number of other research firms also recently issued reports on APLE. ValuEngine upgraded shares of Apple Hospitality REIT from a sell rating to a hold rating in a research report on Wednesday, January 8th. Janney Montgomery Scott assumed coverage on shares of Apple Hospitality REIT in a research report on Monday, December 16th. They set a buy rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $17.75.

Shares of Apple Hospitality REIT stock traded up $0.02 during trading on Tuesday, reaching $15.21. 1,488,486 shares of the company traded hands, compared to its average volume of 1,652,916. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.38 and a quick ratio of 0.38. Apple Hospitality REIT has a 1-year low of $14.65 and a 1-year high of $16.90. The company has a 50 day moving average price of $15.63 and a 200-day moving average price of $15.94. The firm has a market capitalization of $3.41 billion, a PE ratio of 18.78 and a beta of 0.79.

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.20 annualized dividend and a yield of 7.89%. Apple Hospitality REIT’s payout ratio is 69.77%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLE. Janney Montgomery Scott LLC grew its stake in shares of Apple Hospitality REIT by 57.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 36,371 shares of the real estate investment trust’s stock worth $591,000 after acquiring an additional 13,306 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Apple Hospitality REIT in the 4th quarter worth $394,000. State of Alaska Department of Revenue grew its position in Apple Hospitality REIT by 70.9% during the fourth quarter. State of Alaska Department of Revenue now owns 102,800 shares of the real estate investment trust’s stock valued at $1,670,000 after buying an additional 42,648 shares during the period. California State Teachers Retirement System grew its position in Apple Hospitality REIT by 0.4% during the third quarter. California State Teachers Retirement System now owns 335,225 shares of the real estate investment trust’s stock valued at $5,558,000 after buying an additional 1,458 shares during the period. Finally, Abacus Planning Group Inc. grew its position in Apple Hospitality REIT by 115.5% during the fourth quarter. Abacus Planning Group Inc. now owns 25,624 shares of the real estate investment trust’s stock valued at $416,000 after buying an additional 13,735 shares during the period. Hedge funds and other institutional investors own 60.23% of the company’s stock.

Apple Hospitality REIT Company Profile

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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