Apple Hospitality REIT, Inc. (NYSE:APLE) Short Interest Update

Apple Hospitality REIT, Inc. (NYSE:APLE) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 8,770,000 shares, an increase of 19.5% from the January 15th total of 7,340,000 shares. Based on an average daily trading volume, of 1,730,000 shares, the short-interest ratio is currently 5.1 days. Approximately 3.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

APLE has been the subject of several analyst reports. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price for the company. Oppenheimer restated an “outperform” rating and set a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Finally, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Apple Hospitality REIT has a consensus rating of “Moderate Buy” and a consensus price target of $16.60.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in Apple Hospitality REIT in the 4th quarter worth approximately $31,000. GAMMA Investing LLC increased its position in Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 780 shares during the last quarter. Quarry LP raised its stake in Apple Hospitality REIT by 128.1% during the fourth quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,751 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Apple Hospitality REIT during the fourth quarter valued at $51,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Apple Hospitality REIT during the fourth quarter valued at $92,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Performance

APLE opened at $15.26 on Monday. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 17.95 and a beta of 1.13. Apple Hospitality REIT has a fifty-two week low of $13.60 and a fifty-two week high of $16.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The company has a fifty day moving average of $15.39 and a 200 day moving average of $15.09.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be issued a $0.08 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.29%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

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.