Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $16.80 Consensus Target Price from Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $16.80.

Several equities analysts have recently commented on APLE shares. BMO Capital Markets started coverage on shares of 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. Bank of America raised shares of 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 report on Monday, January 27th. Wells Fargo & Company reduced their price target on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd.

Institutional Trading of Apple Hospitality REIT

A number of large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC bought a new stake in Apple Hospitality REIT during the fourth quarter worth approximately $255,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Apple Hospitality REIT during the fourth quarter worth approximately $4,293,000. GF Fund Management CO. LTD. bought a new stake in Apple Hospitality REIT during the fourth quarter worth approximately $64,000. PharVision Advisers LLC bought a new stake in Apple Hospitality REIT during the fourth quarter worth approximately $203,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Apple Hospitality REIT by 1.6% during 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 worth $22,780,000 after buying an additional 22,692 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $13.31 on Wednesday. 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 firm has a 50-day moving average of $14.79 and a two-hundred day moving average of $15.09. The stock has a market cap of $3.19 billion, a P/E ratio of 15.65 and a beta of 1.12. Apple Hospitality REIT has a 1-year low of $13.01 and a 1-year high of $16.83.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating 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 company had revenue of $333.04 million during the quarter, compared to analysts’ expectations of $330.11 million. On average, research analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 7.22%. Apple Hospitality REIT’s payout ratio is currently 109.09%.

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.