Apple Hospitality REIT (NYSE:APLE) Upgraded at StockNews.com

StockNews.com upgraded shares of Apple Hospitality REIT (NYSE:APLE) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

APLE has been the topic of a number of other reports. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Wells Fargo & Company lowered their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Apple Hospitality REIT has a consensus rating of “Hold” and an average price target of $16.50.

Apple Hospitality REIT Stock Up 1.4 %

APLE stock opened at $16.33 on Friday. The stock has a market capitalization of $3.92 billion, a P/E ratio of 19.20 and a beta of 1.11. Apple Hospitality REIT has a 52 week low of $13.60 and a 52 week high of $17.90. The firm has a 50-day simple moving average of $15.16 and a 200-day simple moving average of $14.69. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The firm had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period in the prior year, the firm earned $0.45 earnings per share. Equities analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 5.88%. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

Institutional Investors Weigh In On Apple Hospitality REIT

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Apple Hospitality REIT by 3.5% during the first quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock worth $582,400,000 after acquiring an additional 1,217,142 shares during the period. Masterton Capital Management LP purchased a new stake in shares of Apple Hospitality REIT during the 2nd quarter worth $3,378,000. Dimensional Fund Advisors LP boosted its position in shares of Apple Hospitality REIT by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after purchasing an additional 154,159 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Apple Hospitality REIT by 14.9% in the 3rd quarter. Sound Income Strategies LLC now owns 818,601 shares of the real estate investment trust’s stock valued at $12,156,000 after purchasing an additional 105,993 shares in the last quarter. Finally, Aurora Investment Counsel lifted its stake in shares of Apple Hospitality REIT by 182.9% in the second quarter. Aurora Investment Counsel now owns 75,802 shares of the real estate investment trust’s stock valued at $1,102,000 after purchasing an additional 49,003 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

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.