Oppenheimer Reaffirms Outperform Rating for Apple Hospitality REIT (NYSE:APLE)

Oppenheimer reaffirmed their outperform rating on shares of Apple Hospitality REIT (NYSE:APLE) in a research note issued to investors on Friday, Benzinga reports. They currently have a $17.00 price objective on the real estate investment trust’s stock.

Separately, Wells Fargo & Company cut their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an equal weight rating for the company in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $16.25.

Apple Hospitality REIT Stock Performance

Shares of APLE opened at $15.11 on Friday. The company has a market cap of $3.66 billion, a PE ratio of 17.57 and a beta of 1.12. The firm has a 50-day moving average of $14.45 and a 200-day moving average of $14.76. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $17.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. The business had revenue of $390.08 million for the quarter, compared to the consensus estimate of $388.82 million. During the same quarter in the previous year, the business posted $0.49 EPS. As a group, equities analysts forecast that Apple Hospitality REIT will post 1.61 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.35%. The ex-dividend date of this dividend is Monday, September 30th. Apple Hospitality REIT’s payout ratio is 111.63%.

Insider Transactions at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the purchase, the chairman now owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

Several institutional investors have recently made changes to their positions in APLE. Hsbc Holdings PLC raised its holdings in Apple Hospitality REIT by 14.8% in the 4th quarter. Hsbc Holdings PLC now owns 121,416 shares of the real estate investment trust’s stock valued at $2,017,000 after acquiring an additional 15,608 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Apple Hospitality REIT in the fourth quarter valued at about $154,000. Teachers Retirement System of The State of Kentucky raised its stake in Apple Hospitality REIT by 13.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 65,000 shares of the real estate investment trust’s stock valued at $1,079,000 after purchasing an additional 7,600 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Apple Hospitality REIT by 47.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,105,783 shares of the real estate investment trust’s stock worth $34,977,000 after purchasing an additional 678,905 shares during the period. Finally, Fortis Group Advisors LLC grew its stake in Apple Hospitality REIT by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,493 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

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, 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.