Analysts Set Apple Hospitality REIT, Inc. (NYSE:APLE) Target Price at $16.50

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been given an average recommendation of “Hold” by the eleven brokerages that are presently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.50.

APLE has been the subject of several research analyst reports. LADENBURG THALM/SH SH upped their price objective on Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Barclays reaffirmed an “equal weight” rating and set a $17.00 target price (up from $16.00) on shares of Apple Hospitality REIT in a report on Tuesday, July 21st. Wells Fargo & Company boosted their price target on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Apple Hospitality REIT in a report on Friday, August 21st. Finally, Bank of America raised their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, July 20th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of APLE. Compass Financial Management LLC bought a new stake in shares of Apple Hospitality REIT during the 2nd quarter worth $56,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Apple Hospitality REIT during the fourth quarter worth $43,000. Nykredit A S acquired a new stake in shares of Apple Hospitality REIT during the second quarter worth $62,000. Allworth Financial LP lifted its holdings in shares of Apple Hospitality REIT by 69.7% during the second quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 1,569 shares during the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Apple Hospitality REIT by 2,965.1% during the first quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 3,736 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

NYSE APLE opened at $15.56 on Wednesday. Apple Hospitality REIT has a 12 month low of $10.85 and a 12 month high of $17.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $3.67 billion, a PE ratio of 21.03, a P/E/G ratio of 3.05 and a beta of 0.88. The company’s 50 day simple moving average is $16.20 and its 200 day simple moving average is $14.75.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $402.55 million during the quarter, compared to the consensus estimate of $391.88 million. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. As a group, equities research analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Wednesday, September 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 129.73%.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a real estate investment trust that owns a portfolio of upscale, select-service and extended-stay hotels across the United States. The company generates revenue primarily through hotel operations, including room accommodations, food and beverage services, and other guest services.

Its properties operate under well-known hotel brands, including Marriott, Hilton and Hyatt. The portfolio includes brands such as Courtyard by Marriott, Fairfield by Marriott, Residence Inn, SpringHill Suites, Hampton by Hilton, Hilton Garden Inn, Homewood Suites, Hyatt Place and Hyatt House, among others.