Apple Hospitality REIT, Inc. (NYSE:APLE) Short Interest Update

Apple Hospitality REIT, Inc. (NYSE:APLE) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 8,450,000 shares, a growth of 12.7% from the December 31st total of 7,500,000 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is currently 4.8 days.

Apple Hospitality REIT Price Performance

Shares of APLE traded down $0.11 during mid-day trading on Monday, hitting $15.33. 1,769,075 shares of the company were exchanged, compared to its average volume of 1,734,699. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 18.04 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $16.99. The company has a 50 day moving average of $15.51 and a 200-day moving average of $15.06.

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

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 paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.26%. The ex-dividend date of this dividend is Friday, January 31st. Apple Hospitality REIT’s payout ratio is 112.94%.

Analyst Upgrades and Downgrades

APLE has been the subject of a number of research reports. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 price objective on the stock. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their price target for the company from $16.00 to $17.00 in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.60.

Hedge Funds Weigh In On Apple Hospitality REIT

Large investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its position in Apple Hospitality REIT by 4.0% in the 2nd quarter. Bank of Montreal Can now owns 59,828 shares of the real estate investment trust’s stock valued at $870,000 after purchasing an additional 2,278 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Apple Hospitality REIT by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 134,738 shares of the real estate investment trust’s stock valued at $1,959,000 after acquiring an additional 10,167 shares during the last quarter. Algert Global LLC acquired a new position in Apple Hospitality REIT during the 2nd quarter valued at $337,000. Quarry LP increased its holdings in Apple Hospitality REIT by 127.5% in the 2nd 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 during the period. Finally, Truist Financial Corp increased its holdings in Apple Hospitality REIT by 8.2% in the 2nd quarter. Truist Financial Corp now owns 77,165 shares of the real estate investment trust’s stock valued at $1,122,000 after buying an additional 5,856 shares during the period. Hedge funds and other institutional investors 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.