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

Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.49 and last traded at $13.54, with a volume of 524873 shares. The stock had previously closed at $13.70.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. BMO Capital Markets began coverage on Apple Hospitality REIT in a research report on Monday, December 9th. They set an “outperform” rating and a $18.00 price target on the stock. Wells Fargo & Company lowered their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their price objective for the company from $16.00 to $17.00 in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

Apple Hospitality REIT Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 15.97 and a beta of 1.12. The business’s 50 day simple moving average is $15.01 and its 200 day simple moving average is $15.15.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $333.04 million for the quarter, compared to analyst estimates of $330.11 million. Research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date is Friday, February 28th. Apple Hospitality REIT’s dividend payout ratio is currently 109.09%.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Apple Hospitality REIT during the fourth quarter worth about $4,293,000. GF Fund Management CO. LTD. purchased a new stake in Apple Hospitality REIT during the fourth quarter worth about $64,000. PharVision Advisers LLC purchased a new stake in shares of Apple Hospitality REIT in the fourth quarter valued at about $203,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Apple Hospitality REIT by 1.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,484,034 shares of the real estate investment trust’s stock valued at $22,780,000 after purchasing an additional 22,692 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Apple Hospitality REIT during the fourth quarter valued at approximately $5,898,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.