Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $13.94 Average Price Target from Brokerages

Apple Hospitality REIT, Inc. (NYSE:APLE) has earned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $14.4375.

Several brokerages have recently issued reports on APLE. Wells Fargo & Company increased their target price on Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. began coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They issued a “neutral” rating and a $15.00 target price for the company. Cantor Fitzgerald increased their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. BMO Capital Markets increased their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Barclays increased their target price on Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st.

Apple Hospitality REIT Trading Up 0.3%

APLE opened at $16.21 on Monday. The business has a 50 day simple moving average of $13.83 and a two-hundred day simple moving average of $12.67. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 7.89 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. Apple Hospitality REIT has a one year low of $10.85 and a one year high of $16.35.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The firm had revenue of $337.74 million for the quarter, compared to the consensus estimate of $327.81 million. Analysts predict that Apple Hospitality REIT will post 1.58 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 5.9%. Apple Hospitality REIT’s dividend payout ratio is currently 131.51%.

Insider Activity

In other news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $13.96 per share, with a total value of $69,800.00. Following the transaction, the chairman owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Apple Hospitality REIT by 0.5% in the 4th quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust’s stock worth $154,627,000 after buying an additional 68,794 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Apple Hospitality REIT by 1.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust’s stock worth $84,227,000 after buying an additional 127,327 shares during the last quarter. UBS Group AG grew its stake in shares of Apple Hospitality REIT by 60.8% in the 4th quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock worth $55,950,000 after buying an additional 1,786,018 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Apple Hospitality REIT by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust’s stock worth $55,871,000 after buying an additional 125,759 shares during the last quarter. Finally, Centerbridge Partners L.P. grew its stake in shares of Apple Hospitality REIT by 88.2% in the 4th quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock worth $50,123,000 after buying an additional 1,982,000 shares during the last quarter. Hedge funds and other institutional investors 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.