Apple Hospitality REIT, Inc. (NYSE:APLE) Sees Significant Decline in Short Interest

Apple Hospitality REIT, Inc. (NYSE:APLE) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 6,860,000 shares, a decrease of 20.0% from the February 28th total of 8,580,000 shares. Based on an average daily volume of 2,190,000 shares, the short-interest ratio is currently 3.1 days. Currently, 3.1% of the company’s shares are short sold.

Apple Hospitality REIT Stock Performance

NYSE APLE opened at $12.86 on Monday. Apple Hospitality REIT has a fifty-two week low of $12.69 and a fifty-two week high of $16.51. 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 firm has a market capitalization of $3.08 billion, a P/E ratio of 15.12 and a beta of 1.12. The stock has a 50-day simple moving average of $14.61 and a two-hundred day simple moving average of $15.07.

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

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.08 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 7.47%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 109.09%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd purchased a new stake in Apple Hospitality REIT during the 4th quarter valued at about $31,000. Quarry LP grew its holdings in shares of Apple Hospitality REIT by 128.1% during the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,751 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Apple Hospitality REIT during the 4th quarter worth about $51,000. GF Fund Management CO. LTD. purchased a new stake in Apple Hospitality REIT in the 4th quarter valued at about $64,000. Finally, GAMMA Investing LLC lifted its position in Apple Hospitality REIT by 80.9% in the fourth quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 2,193 shares during the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on APLE shares. Bank of America upgraded shares of 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 note on Monday, January 27th. BMO Capital Markets started 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. 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.80.

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.