Apple Hospitality REIT (NYSE:APLE) PT Lowered to $15.00 at Wells Fargo & Company

Apple Hospitality REIT (NYSE:APLE) had its price objective reduced by Wells Fargo & Company from $16.00 to $15.00 in a research note issued to investors on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on the stock. Oppenheimer decreased their price target on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an outperform rating for the company in a research note on Monday, August 12th. Wedbush initiated coverage on Apple Hospitality REIT in a research report on Monday, June 3rd. They set a neutral rating and a $15.00 target price on the stock. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $16.25.

Apple Hospitality REIT Price Performance

APLE stock opened at $14.28 on Friday. The company has a market capitalization of $3.46 billion, a P/E ratio of 16.60 and a beta of 1.12. The company has a fifty day moving average price of $14.39 and a 200-day moving average price of $14.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. Apple Hospitality REIT has a 52-week low of $13.60 and a 52-week high of $17.90.

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

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date is Friday, August 30th. Apple Hospitality REIT’s dividend payout ratio is currently 111.63%.

Insider Activity

In related news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $14.04 per share, with a total value of $70,200.00. Following the transaction, the chairman now owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of institutional investors have recently added to or reduced their stakes in APLE. Principal Securities Inc. purchased a new position in shares of Apple Hospitality REIT in the 4th quarter worth approximately $26,000. EdgeRock Capital LLC bought a new stake in Apple Hospitality REIT during the second quarter worth $26,000. YHB Investment Advisors Inc. purchased a new position in Apple Hospitality REIT in the first quarter worth $37,000. Quarry LP increased its position in shares of Apple Hospitality REIT by 127.5% during the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,290 shares during the last quarter. Finally, Fortis Group Advisors LLC increased its position in shares of Apple Hospitality REIT by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,493 shares during the last quarter. 89.66% of the stock is 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.