Apple Hospitality REIT, Inc. (NYSE:APLE) Sees Large Increase in Short Interest

Apple Hospitality REIT, Inc. (NYSE:APLE) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 13,460,000 shares, a growth of 6.1% from the August 15th total of 12,690,000 shares. Based on an average daily volume of 2,280,000 shares, the short-interest ratio is currently 5.9 days.

Apple Hospitality REIT Trading Up 0.6 %

APLE stock traded up $0.08 during midday trading on Wednesday, hitting $14.46. 1,857,671 shares of the company’s stock were exchanged, compared to its average volume of 2,104,009. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $17.90. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.50 billion, a PE ratio of 16.72 and a beta of 1.12. The business has a 50-day simple moving average of $14.40 and a two-hundred day simple moving average of $14.91.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.13). Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. The company had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. During the same quarter last year, the firm posted $0.49 earnings per share. On average, sell-side analysts predict that Apple Hospitality REIT will post 1.61 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.96 annualized dividend and a yield of 6.64%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 111.63%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Oppenheimer cut their price target on Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Wells Fargo & Company cut their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Finally, Wedbush started coverage on shares of Apple Hospitality REIT in a research report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price target on the stock. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Apple Hospitality REIT currently has a consensus rating of “Hold” and a consensus price target of $16.25.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $14.04 per share, with a total value of $70,200.00. Following the completion of the acquisition, the chairman now directly owns 636,990 shares of the company’s stock, valued at $8,943,339.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLE. Sanctuary Advisors LLC acquired a new position in Apple Hospitality REIT in the 2nd quarter valued at about $348,000. Aurora Investment Counsel grew its holdings in shares of Apple Hospitality REIT by 182.9% in the second quarter. Aurora Investment Counsel now owns 75,802 shares of the real estate investment trust’s stock valued at $1,102,000 after purchasing an additional 49,003 shares in the last quarter. Truist Financial Corp increased its stake in Apple Hospitality REIT by 8.2% during the 2nd quarter. Truist Financial Corp now owns 77,165 shares of the real estate investment trust’s stock worth $1,122,000 after buying an additional 5,856 shares during the period. Quarry LP increased its stake in Apple Hospitality REIT by 127.5% during the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,290 shares during the period. Finally, Algert Global LLC acquired a new stake in Apple Hospitality REIT during the 2nd quarter worth approximately $337,000. 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.