Apple Hospitality REIT, Inc. (NYSE:APLE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Apple Hospitality REIT, Inc. (NYSE:APLE) has been assigned an average rating of “Moderate Buy” from the four ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $16.50.

Several analysts recently weighed in on APLE shares. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Wells Fargo & Company dropped their price objective on shares of 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. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, 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 on the stock.

Apple Hospitality REIT Price Performance

Apple Hospitality REIT stock opened at $14.61 on Friday. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 17.19 and a beta of 1.13. The firm has a 50-day moving average of $15.67 and a two-hundred day moving average of $14.97. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $16.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). The firm had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period last year, the company earned $0.45 EPS. On average, research analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.57%. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

Institutional Investors Weigh In On Apple Hospitality REIT

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its position in shares of Apple Hospitality REIT by 127.5% in the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,290 shares during the period. GAMMA Investing LLC increased its holdings in shares of Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 780 shares during the period. Headlands Technologies LLC increased its holdings in shares of Apple Hospitality REIT by 4,406.5% in the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 5,420 shares during the period. Palouse Capital Management Inc. purchased a new position in shares of Apple Hospitality REIT in the second quarter worth about $99,000. Finally, Covestor Ltd lifted its holdings in shares of Apple Hospitality REIT by 30.0% during the third quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 1,831 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

About Apple Hospitality REIT

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.