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

Apple Hospitality REIT, Inc. (NYSE:APLE) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 10,460,000 shares, a growth of 5.2% from the March 31st total of 9,940,000 shares. Based on an average trading volume of 1,790,000 shares, the days-to-cover ratio is currently 5.8 days.

Wall Street Analyst Weigh In

Several brokerages have commented on APLE. StockNews.com downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Bank of America downgraded Apple Hospitality REIT from a “buy” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $18.00 in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.40.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in shares of Apple Hospitality REIT by 27.2% during the 1st quarter. BNP Paribas Financial Markets now owns 108,191 shares of the real estate investment trust’s stock worth $1,772,000 after buying an additional 23,127 shares in the last quarter. Fortis Group Advisors LLC boosted its position in Apple Hospitality REIT by 45.6% during the first quarter. Fortis Group Advisors LLC now owns 4,349 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 1,363 shares in the last quarter. Principal Financial Group Inc. boosted its position in Apple Hospitality REIT by 3.5% during the first quarter. Principal Financial Group Inc. now owns 7,298,700 shares of the real estate investment trust’s stock valued at $119,553,000 after purchasing an additional 247,110 shares in the last quarter. Meritage Portfolio Management boosted its position in Apple Hospitality REIT by 28.3% during the first quarter. Meritage Portfolio Management now owns 338,167 shares of the real estate investment trust’s stock valued at $5,539,000 after purchasing an additional 74,693 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in Apple Hospitality REIT during the first quarter valued at about $37,000. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

APLE opened at $14.85 on Thursday. Apple Hospitality REIT has a 12-month low of $14.22 and a 12-month high of $17.90. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $16.01 and its 200-day simple moving average is $16.25. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 19.03 and a beta of 1.08.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend is Monday, April 29th. Apple Hospitality REIT’s payout ratio is 123.08%.

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.