Apple Hospitality REIT (NYSE:APLE) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Apple Hospitality REIT (NYSE:APLE) from a sell rating to a hold rating in a research note published on Wednesday.

Other research analysts have also issued reports about the company. Oppenheimer reissued an “outperform” rating and issued a $17.00 price objective on shares of Apple Hospitality REIT in a report on Friday, October 4th. Wells Fargo & Company cut their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of “Hold” and an average target price of $16.25.

Apple Hospitality REIT Stock Up 6.6 %

NYSE:APLE opened at $15.74 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $17.90. The company has a market cap of $3.81 billion, a PE ratio of 18.52 and a beta of 1.11. The company’s 50 day moving average is $14.79 and its two-hundred day moving average is $14.63.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. The company had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. During the same period last year, the firm earned $0.45 earnings per share. Analysts anticipate that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend is Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in APLE. EdgeRock Capital LLC purchased a new stake in Apple Hospitality REIT during the second quarter worth $26,000. Quarry LP increased its holdings in Apple Hospitality REIT by 127.5% in the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,290 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Apple Hospitality REIT by 40.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 780 shares in the last quarter. Covestor Ltd boosted its stake in shares of Apple Hospitality REIT by 115.6% during the 1st quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 2,313 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Apple Hospitality REIT by 4,406.5% during the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 5,420 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

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.