Apple Hospitality REIT, Inc. (NYSE:APLE) Given Consensus Recommendation of “Hold” by Analysts

Apple Hospitality REIT, Inc. (NYSE:APLE) has received an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $12.70.

A number of research analysts recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Apple Hospitality REIT in a report on Thursday, October 30th. Bank of America lowered Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price objective on the stock. in a research note on Tuesday, November 4th. Cantor Fitzgerald began coverage on Apple Hospitality REIT in a report on Wednesday, October 1st. They set an “overweight” rating and a $14.00 price objective on the stock. Finally, Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research note on Friday, October 3rd.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were acquired at an average cost of $11.91 per share, for a total transaction of $59,550.00. Following the purchase, the chairman directly owned 710,344 shares of the company’s stock, valued at $8,460,197.04. The trade was a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders bought 8,000 shares of company stock valued at $95,180. 7.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of APLE. Cubist Systematic Strategies LLC bought a new stake in shares of Apple Hospitality REIT in the 1st quarter valued at about $6,254,000. Arrowstreet Capital Limited Partnership increased its stake in Apple Hospitality REIT by 285.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,350,787 shares of the real estate investment trust’s stock worth $15,764,000 after purchasing an additional 1,000,214 shares during the period. Caxton Associates LLP purchased a new position in Apple Hospitality REIT in the 2nd quarter worth approximately $1,794,000. Strs Ohio bought a new stake in Apple Hospitality REIT in the first quarter valued at approximately $4,395,000. Finally, Graham Capital Management L.P. purchased a new stake in shares of Apple Hospitality REIT during the first quarter valued at approximately $1,507,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Down 0.5%

Shares of Apple Hospitality REIT stock opened at $12.17 on Monday. The stock has a market capitalization of $2.88 billion, a P/E ratio of 16.66 and a beta of 0.83. Apple Hospitality REIT has a 52-week low of $10.44 and a 52-week high of $16.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.06 and a current ratio of 0.06. The stock’s 50-day simple moving average is $11.70 and its 200 day simple moving average is $12.01.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Apple Hospitality REIT had a net margin of 12.37% and a return on equity of 5.46%. The firm had revenue of $373.88 million during the quarter, compared to the consensus estimate of $371.94 million. As a group, research analysts anticipate that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) annualized dividend and a yield of 7.9%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 131.51%.

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.