Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $16.80 Average PT from Brokerages

Apple Hospitality REIT, Inc. (NYSE:APLE) has been given an average rating of “Moderate Buy” by the five analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $16.80.

APLE has been the subject of a number of research reports. BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price target for the company. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Oppenheimer reissued an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Finally, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd.

Institutional Trading of Apple Hospitality REIT

Several institutional investors have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd bought a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at about $31,000. Quarry LP increased its stake in Apple Hospitality REIT by 128.1% in the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,751 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Apple Hospitality REIT in the fourth quarter valued at approximately $51,000. GF Fund Management CO. LTD. bought a new stake in Apple Hospitality REIT in the fourth quarter valued at approximately $64,000. Finally, GAMMA Investing LLC boosted its stake in shares of Apple Hospitality REIT by 80.9% during the fourth quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 2,193 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Performance

NYSE APLE opened at $14.61 on Friday. The company’s 50 day simple moving average is $15.26 and its two-hundred day simple moving average is $15.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $16.99. The stock has a market capitalization of $3.50 billion, a PE ratio of 17.18 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.21. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. Analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date of this dividend is Friday, February 28th. Apple Hospitality REIT’s payout ratio is presently 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.