Apple Hospitality REIT (NYSE:APLE) Sets New 52-Week Low – Here’s Why

Apple Hospitality REIT, Inc. (NYSE:APLE)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $13.01 and last traded at $13.12, with a volume of 576467 shares traded. The stock had previously closed at $13.51.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a research report on Monday, December 9th. They set an “outperform” rating and a $18.00 target price for the company. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their target price for the stock from $16.00 to $17.00 in a research report on Monday, January 27th. Finally, Wells Fargo & Company cut their price target on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Three 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, the stock has an average rating of “Moderate Buy” and an average price target of $16.80.

Apple Hospitality REIT Stock Down 2.3 %

The business has a 50 day moving average of $14.82 and a 200 day moving average of $15.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 15.50 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $333.04 million during the quarter, compared to analyst estimates of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. On average, equities analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $0.08 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.28%. Apple Hospitality REIT’s payout ratio is 109.09%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in Apple Hospitality REIT by 27.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust’s stock worth $126,472,000 after acquiring an additional 1,761,996 shares in the last quarter. Victory Capital Management Inc. raised its stake in Apple Hospitality REIT by 0.4% during the fourth quarter. Victory Capital Management Inc. now owns 6,767,740 shares of the real estate investment trust’s stock worth $103,885,000 after acquiring an additional 29,781 shares in the last quarter. Geode Capital Management LLC raised its stake in Apple Hospitality REIT by 1.1% during 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 acquiring an additional 62,149 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Apple Hospitality REIT by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 5,243,575 shares of the real estate investment trust’s stock worth $77,867,000 after acquiring an additional 18,858 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Apple Hospitality REIT by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust’s stock worth $70,465,000 after acquiring an additional 133,505 shares in the last quarter. 89.66% of the stock is currently 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.