Apple Hospitality REIT (NYSE:APLE) Given New $16.00 Price Target at Wells Fargo & Company

Apple Hospitality REIT (NYSE:APLE) had its price objective decreased by Wells Fargo & Company from $17.00 to $16.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Several other research analysts also recently commented on the company. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Oppenheimer reaffirmed 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. Finally, BMO Capital Markets initiated coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Apple Hospitality REIT currently has an average rating of “Moderate Buy” and a consensus target price of $16.80.

Apple Hospitality REIT Trading Up 1.0 %

Shares of NYSE:APLE opened at $15.38 on Tuesday. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 18.09 and a beta of 1.13. 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 stock’s 50-day simple moving average is $15.37 and its two-hundred day simple moving average is $15.09. Apple Hospitality REIT has a 52-week low of $13.60 and a 52-week high of $16.99.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 31st were paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.24%. The ex-dividend date of this dividend was Friday, January 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Institutional Trading of Apple Hospitality REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in Apple Hospitality REIT by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock worth $66,187,000 after acquiring an additional 182,917 shares during the last quarter. Centiva Capital LP bought a new stake in Apple Hospitality REIT in the 3rd quarter worth approximately $1,067,000. Barclays PLC increased its stake in Apple Hospitality REIT by 118.8% in the 3rd quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust’s stock worth $6,273,000 after acquiring an additional 229,293 shares during the last quarter. Foundry Partners LLC increased its stake in Apple Hospitality REIT by 29.6% in the 3rd quarter. Foundry Partners LLC now owns 474,672 shares of the real estate investment trust’s stock worth $7,049,000 after acquiring an additional 108,523 shares during the last quarter. Finally, KBC Group NV increased its stake in Apple Hospitality REIT by 37.8% in the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock worth $142,000 after acquiring an additional 2,541 shares during the last quarter. 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.