Apple Hospitality REIT (NYSE:APLE) Sets New 52-Week High – Here’s Why

Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week high during trading on Wednesday. The stock traded as high as $18.73 and last traded at $18.5630, with a volume of 861,717 shares changing hands. The stock had previously closed at $18.62.

Analysts Set New Price Targets

APLE has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Apple Hospitality REIT in a report on Friday, August 21st. Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Zacks Research downgraded shares of Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Barclays boosted their price objective on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 13th. Finally, Bank of America upped their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Apple Hospitality REIT currently has an average rating of “Hold” and an average price target of $17.31.

Apple Hospitality REIT Stock Up 0.3%

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a fifty day simple moving average of $16.37 and a 200-day simple moving average of $14.55. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 3.47 and a beta of 0.92.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. The firm had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. As a group, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.63 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 30th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Friday, October 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 129.73%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Compass Financial Management LLC acquired a new stake in Apple Hospitality REIT during the second quarter worth approximately $56,000. Nykredit A S bought a new stake in shares of Apple Hospitality REIT during the second quarter worth approximately $62,000. Allworth Financial LP grew its position in shares of Apple Hospitality REIT by 69.7% in 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. Inspire Investing LLC grew its position in shares of Apple Hospitality REIT by 2,965.1% in 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. Finally, Palouse Capital Management Inc. grew its position in shares of Apple Hospitality REIT by 21.1% in the second quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 750 shares during the last quarter. 89.66% of the stock is owned by institutional investors.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a self-administered and self-managed real estate investment trust that owns a portfolio of upscale, select-service hotels across the United States. The company’s properties primarily operate under well-known hospitality brands affiliated with Marriott International, Hilton Worldwide Holdings and Hyatt Hotels Corporation.

Apple Hospitality’s hotels provide lodging and related guest services, including accommodations, meeting facilities, food and beverage offerings, and other amenities.