Apple Hospitality REIT, Inc. (NYSE:APLE) Receives Average Recommendation of “Hold” from Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have earned an average rating of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.50.

A number of research firms have weighed in on APLE. Bank of America lifted their target price on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, July 20th. BMO Capital Markets boosted their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. upped their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating 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 company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Barclays reiterated an “equal weight” rating and issued a $17.00 price objective (up from $16.00) on shares of Apple Hospitality REIT in a research report on Tuesday, July 21st.

Apple Hospitality REIT Trading Up 0.7%

NYSE:APLE opened at $16.54 on Friday. Apple Hospitality REIT has a 1 year low of $10.85 and a 1 year high of $17.28. The stock’s fifty day moving average price is $16.51 and its two-hundred day moving average price is $14.39. 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 company has a market cap of $3.90 billion, a P/E ratio of 22.35, a P/E/G ratio of 3.14 and a beta of 0.88.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%.The company had revenue of $402.55 million during the quarter, compared to analysts’ expectations of $391.88 million. As a group, analysts expect that Apple Hospitality REIT will post 1.64 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 5.8%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 129.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC increased its position in shares of 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 worth $31,000 after purchasing an additional 1,814 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 2,640 shares during the last quarter. Danske Bank A S purchased a new position in Apple Hospitality REIT in the 3rd quarter worth approximately $36,000. Godfrey Financial Associates Inc. purchased a new position in Apple Hospitality REIT in the 4th quarter worth approximately $43,000. Finally, Inspire Investing LLC increased its holdings in shares of Apple Hospitality REIT by 2,965.1% in the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 3,736 shares during the last quarter. Hedge funds and other institutional investors 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.