Apple Hospitality REIT, Inc. (NYSE:APLE) Receives Average Recommendation of “Hold” from Brokerages

Apple Hospitality REIT, Inc. (NYSE:APLE) has been assigned a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $16.80.

A number of research firms recently issued reports on APLE. Wells Fargo & Company dropped their target price on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. BMO Capital Markets started coverage on Apple Hospitality REIT in a report on Monday. They issued an “outperform” rating and a $18.00 price target on the stock. Oppenheimer restated an “outperform” rating and set a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLE. Victory Capital Management Inc. boosted its holdings in shares of Apple Hospitality REIT by 17.2% in the second quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock worth $87,518,000 after acquiring an additional 881,217 shares during the period. Edgestream Partners L.P. lifted its holdings in Apple Hospitality REIT by 400.8% during the 2nd quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust’s stock worth $9,286,000 after purchasing an additional 511,100 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Apple Hospitality REIT by 911.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 388,414 shares of the real estate investment trust’s stock worth $5,648,000 after purchasing an additional 350,000 shares during the period. Van Lanschot Kempen Investment Management N.V. grew its holdings in Apple Hospitality REIT by 3,768.4% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,156 shares of the real estate investment trust’s stock valued at $5,062,000 after buying an additional 339,156 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of Apple Hospitality REIT during the third quarter valued at about $4,285,000. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Up 0.9 %

Shares of Apple Hospitality REIT stock traded up $0.15 during trading on Monday, hitting $16.20. The company’s stock had a trading volume of 54,989 shares, compared to its average volume of 2,024,577. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 19.06 and a beta of 1.13. Apple Hospitality REIT has a 52 week low of $13.60 and a 52 week high of $17.90. The stock has a 50-day moving average price of $15.40 and a two-hundred day moving average price of $14.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). The company had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same period in the previous year, the company posted $0.45 EPS. Equities research analysts anticipate that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.93%. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

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.