Apple Hospitality REIT, Inc. (NYSE:APLE) Sees Large Growth in Short Interest

Apple Hospitality REIT, Inc. (NYSE:APLE) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 8,770,000 shares, an increase of 19.5% from the January 15th total of 7,340,000 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily volume of 1,730,000 shares, the short-interest ratio is presently 5.1 days.

Analysts Set New Price Targets

APLE has been the subject of a number of analyst reports. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their target price for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Finally, BMO Capital Markets began coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Apple Hospitality REIT Price Performance

APLE traded down $0.06 during trading on Friday, hitting $15.26. 1,458,998 shares of the company traded hands, compared to its average volume of 1,484,682. The company has a market cap of $3.66 billion, a PE ratio of 17.95 and a beta of 1.13. The stock’s 50-day simple moving average is $15.39 and its two-hundred day simple moving average is $15.09. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $16.99. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be issued a $0.08 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.29%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Institutional Investors Weigh In On Apple Hospitality REIT

Large investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at about $31,000. GAMMA Investing LLC raised its holdings in shares of Apple Hospitality REIT by 40.4% in the 3rd 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 in the last quarter. Quarry LP raised its holdings in shares of Apple Hospitality REIT by 128.1% in the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,751 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at about $51,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at about $92,000. 89.66% of the stock is owned by hedge funds and other institutional investors.

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.