Apple Hospitality REIT (NYSE:APLE) Reaches New 1-Year High – Still a Buy?

Apple Hospitality REIT, Inc. (NYSE:APLE)’s share price hit a new 52-week high on Friday . The company traded as high as $15.78 and last traded at $15.7350, with a volume of 619517 shares trading hands. The stock had previously closed at $15.67.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on APLE shares. Barclays raised their price target on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company raised their target price on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Monday. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. started coverage on shares of Apple Hospitality REIT in a research note on Monday. They issued a “neutral” rating and a $15.00 target price on the stock. Finally, LADENBURG THALM/SH SH started coverage on shares of Apple Hospitality REIT in a research note on Thursday, March 26th. They issued a “neutral” rating and a $13.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.94.

Apple Hospitality REIT Trading Up 0.7%

The stock has a market cap of $3.73 billion, a PE ratio of 21.64 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The company’s 50-day moving average price is $13.32 and its 200 day moving average price is $12.50.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The firm had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. On average, sell-side analysts forecast that Apple Hospitality REIT, Inc. will post 1.57 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $0.08 dividend. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, May 29th. Apple Hospitality REIT’s dividend payout ratio (DPR) is 131.51%.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the purchase, the chairman directly owned 747,191 shares in the company, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake in shares of Apple Hospitality REIT by 2.8% during the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock worth $2,205,000 after purchasing an additional 4,712 shares in the last quarter. AQR Capital Management LLC lifted its position in Apple Hospitality REIT by 114.3% in the first quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock valued at $1,732,000 after acquiring an additional 72,553 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Apple Hospitality REIT by 5.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock valued at $1,776,000 after acquiring an additional 6,788 shares during the last quarter. NewEdge Advisors LLC lifted its position in Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 1,814 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Apple Hospitality REIT by 10,235.7% in the first quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 21,495 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

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.