Apple Hospitality REIT (NYSE:APLE) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $18.00 price target on the real estate investment trust’s stock.

Several other research firms have also commented on APLE. Oppenheimer reiterated an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Wells Fargo & Company decreased their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Apple Hospitality REIT has an average rating of “Hold” and a consensus target price of $16.80.

Apple Hospitality REIT Trading Up 0.7 %

NYSE APLE opened at $16.17 on Monday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $15.43 and a 200 day simple moving average of $14.80. Apple Hospitality REIT has a 12 month low of $13.60 and a 12 month high of $17.90. The firm has a market capitalization of $3.88 billion, a P/E ratio of 19.02 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The firm had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. During the same quarter in the previous year, the company earned $0.45 EPS. On average, analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.94%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Hedge Funds Weigh In On Apple Hospitality REIT

Several institutional investors and hedge funds have recently bought and sold shares of the company. AlphaMark Advisors LLC lifted its holdings in Apple Hospitality REIT by 12.7% during the second quarter. AlphaMark Advisors LLC now owns 20,664 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 2,333 shares during the last quarter. Vanderbilt University bought a new position in Apple Hospitality REIT in the 2nd quarter worth approximately $337,000. Blue Trust Inc. grew its stake in Apple Hospitality REIT by 15.5% in the 2nd quarter. Blue Trust Inc. now owns 9,657 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 1,299 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Apple Hospitality REIT by 5.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 251,347 shares of the real estate investment trust’s stock valued at $3,655,000 after acquiring an additional 12,005 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Apple Hospitality REIT by 1.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 86,027 shares of the real estate investment trust’s stock valued at $1,258,000 after acquiring an additional 1,528 shares during the period. 89.66% of the stock is owned by institutional investors.

Apple Hospitality REIT Company Profile

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.