Apple Hospitality REIT’s (APLE) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Apple Hospitality REIT (NYSE:APLE) in a research note issued to investors on Tuesday,Benzinga reports. Cantor Fitzgerald currently has a $14.00 price objective on the real estate investment trust’s stock.

APLE has been the subject of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Barclays initiated coverage on Apple Hospitality REIT in a research report on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 price objective on the stock. Finally, Bank of America cut shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price objective on the stock. in a research note on Tuesday, November 4th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Hold” and an average price target of $12.92.

Apple Hospitality REIT Stock Performance

APLE opened at $12.42 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average price is $12.19 and its two-hundred day moving average price is $12.08. The firm has a market capitalization of $2.93 billion, a P/E ratio of 16.78 and a beta of 0.81. Apple Hospitality REIT has a 12-month low of $10.44 and a 12-month high of $14.71.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.16). The business had revenue of $326.44 million during the quarter, compared to the consensus estimate of $322.60 million. Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. On average, equities analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be issued a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Friday, February 27th. Apple Hospitality REIT’s payout ratio is presently 129.73%.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was purchased at an average price of $11.91 per share, for a total transaction of $59,550.00. Following the completion of the purchase, the chairman directly owned 710,344 shares in the company, valued at $8,460,197.04. The trade was a 0.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

Several hedge funds have recently bought and sold shares of APLE. Norges Bank bought a new position in Apple Hospitality REIT during the fourth quarter worth $40,950,000. Centerbridge Partners L.P. raised its position in shares of Apple Hospitality REIT by 88.2% in the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock valued at $50,123,000 after purchasing an additional 1,982,000 shares during the period. UBS Group AG lifted its stake in shares of Apple Hospitality REIT by 60.8% during the 4th quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock worth $55,950,000 after buying an additional 1,786,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Apple Hospitality REIT during the 4th quarter worth about $13,361,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Apple Hospitality REIT by 285.3% in the 2nd 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 buying an additional 1,000,214 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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.