Apple Hospitality REIT (NYSE:APLE) Coverage Initiated at BMO Capital Markets

BMO Capital Markets started coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research note released on Monday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $18.00 price target on the real estate investment trust’s stock.

Several other analysts have also commented on the stock. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.80.

Apple Hospitality REIT Trading Down 0.1 %

Shares of APLE stock opened at $16.24 on Monday. 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 company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 19.11 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 company has a 50-day simple moving average of $15.49 and a two-hundred day simple moving average of $14.82.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $377.56 million. During the same period in the previous year, the business posted $0.45 earnings per share. Research analysts anticipate that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 5.91%. Apple Hospitality REIT’s dividend payout ratio is 112.94%.

Institutional Trading of Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its stake in Apple Hospitality REIT by 11.9% in the 3rd quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock worth $100,059,000 after purchasing an additional 718,844 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Apple Hospitality REIT by 1.1% in the third quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock worth $85,571,000 after buying an additional 62,149 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Apple Hospitality REIT by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock valued at $66,187,000 after acquiring an additional 182,917 shares during the period. Dimensional Fund Advisors LP grew its stake in Apple Hospitality REIT by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock valued at $49,072,000 after acquiring an additional 154,159 shares in the last quarter. Finally, LSV Asset Management increased its holdings in Apple Hospitality REIT by 2.1% during the 2nd quarter. LSV Asset Management now owns 2,572,043 shares of the real estate investment trust’s stock worth $37,398,000 after acquiring an additional 53,300 shares during the period. 89.66% of the stock is currently 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.