Apple Hospitality REIT (NYSE:APLE) Sets New 1-Year High – Here’s What Happened

Apple Hospitality REIT, Inc. (NYSE:APLE)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $14.19 and last traded at $13.7850, with a volume of 3033944 shares trading hands. The stock had previously closed at $14.13.

Analyst Upgrades and Downgrades

A number of analysts recently commented on APLE shares. Barclays dropped their target price on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Wells Fargo & Company decreased their target price on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 24th. LADENBURG THALM/SH SH began coverage on shares of Apple Hospitality REIT in a report on Thursday, March 26th. They issued a “neutral” rating and a $13.00 target price for the company. Cantor Fitzgerald increased their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Apple Hospitality REIT has a consensus rating of “Hold” and a consensus target price of $12.93.

Apple Hospitality REIT Stock Performance

The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $12.48 and a 200 day moving average price of $12.15. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 8.26 and a beta of 0.88.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. As a group, analysts predict that Apple Hospitality REIT, Inc. will post 1.55 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be given a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date is Thursday, April 30th. Apple Hospitality REIT’s dividend payout ratio is 131.51%.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the transaction, the chairman owned 747,191 shares of the company’s stock, valued at $10,430,786.36. The trade was a 0.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC boosted its position in Apple Hospitality REIT by 7.9% in the 3rd quarter. Private Advisor Group LLC now owns 13,883 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 1,022 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Apple Hospitality REIT by 0.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock worth $2,764,000 after purchasing an additional 1,068 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Apple Hospitality REIT by 1.4% in the second quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 1,100 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Apple Hospitality REIT by 9.3% in the fourth quarter. Captrust Financial Advisors now owns 13,519 shares of the real estate investment trust’s stock valued at $160,000 after acquiring an additional 1,149 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Apple Hospitality REIT by 16.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,316 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,160 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

About Apple Hospitality REIT

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.