Apple Hospitality REIT, Inc. (NYSE:APLE) Sees Large Growth in Short Interest

Apple Hospitality REIT, Inc. (NYSE:APLE) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 8,770,000 shares, an increase of 19.5% from the January 15th total of 7,340,000 shares. Based on an average daily trading volume, of 1,730,000 shares, the short-interest ratio is currently 5.1 days. Approximately 3.9% of the company’s shares are sold short.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of hedge funds have recently added to or reduced their stakes in APLE. Aster Capital Management DIFC Ltd bought a new position in shares of Apple Hospitality REIT in the 4th quarter worth approximately $31,000. GAMMA Investing LLC grew 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 valued at $40,000 after acquiring an additional 780 shares during the period. Quarry LP increased its holdings in Apple Hospitality REIT by 128.1% in the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,751 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Apple Hospitality REIT during the 4th quarter worth approximately $51,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Apple Hospitality REIT during the fourth quarter valued at approximately $92,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on APLE shares. BMO Capital Markets started coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $16.00 to $17.00 in a research report on Monday, January 27th. Finally, StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

Apple Hospitality REIT Stock Down 0.4 %

Shares of APLE traded down $0.06 during mid-day trading on Friday, reaching $15.26. The company had a trading volume of 1,458,998 shares, compared to its average volume of 1,484,682. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a 50-day moving average price of $15.39 and a 200 day moving average price of $15.09. Apple Hospitality REIT has a 52 week low of $13.60 and a 52 week high of $16.99. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 17.95 and a beta of 1.13.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.29%. Apple Hospitality REIT’s payout ratio is currently 112.94%.

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.