Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $16.80 Average Target Price from Analysts

Apple Hospitality REIT, Inc. (NYSE:APLE) has been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $16.80.

APLE has been the topic of a number of research analyst reports. BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price on the stock. Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Finally, Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th.

Apple Hospitality REIT Trading Down 1.2 %

Shares of NYSE APLE opened at $13.22 on Wednesday. Apple Hospitality REIT has a fifty-two week low of $13.01 and a fifty-two week high of $16.60. 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 cap of $3.17 billion, a price-to-earnings ratio of 15.55 and a beta of 1.12. The business’s 50 day moving average price is $14.74 and its 200-day moving average price is $15.09.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $333.04 million during the quarter, compared to the consensus estimate of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. On average, sell-side analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.08 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 7.26%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 109.09%.

Institutional Trading of Apple Hospitality REIT

Several hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position 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 valued at $126,472,000 after acquiring an additional 1,761,996 shares during the last quarter. Victory Capital Management Inc. grew its stake in Apple Hospitality REIT by 0.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,767,740 shares of the real estate investment trust’s stock worth $103,885,000 after buying an additional 29,781 shares during the last quarter. Geode Capital Management LLC raised its stake in 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 valued at $85,571,000 after buying an additional 62,149 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Apple Hospitality REIT by 0.4% in 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 position in shares of Apple Hospitality REIT by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust’s stock valued at $70,465,000 after purchasing an additional 133,505 shares during the last quarter. 89.66% of the stock is owned by hedge funds and other 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.