Apple Hospitality REIT (NYSE:APLE) Sets New 1-Year Low – Should You Sell?

Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $13.01 and last traded at $13.12, with a volume of 576467 shares. The stock had previously closed at $13.51.

Analyst Ratings Changes

Several brokerages recently commented on APLE. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $16.00 to $17.00 in a report on Monday, January 27th. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Apple Hospitality REIT has a consensus rating of “Moderate Buy” and an average price target of $16.80.

Apple Hospitality REIT Stock Performance

The stock’s 50-day simple moving average is $14.79 and its 200-day simple moving average is $15.10. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 15.65 and a beta of 1.12. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $333.04 million for the quarter, compared to analyst estimates of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. Analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors 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 dividend on an annualized basis and a yield of 7.22%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 109.09%.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of institutional investors have recently modified their holdings of APLE. Aster Capital Management DIFC Ltd bought a new position in Apple Hospitality REIT in the fourth quarter valued at about $31,000. Quarry LP boosted its stake in shares of 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 valued at $48,000 after purchasing an additional 1,751 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Apple Hospitality REIT during the 4th quarter valued at approximately $51,000. GF Fund Management CO. LTD. bought a new stake in shares of Apple Hospitality REIT during the 4th quarter valued at approximately $64,000. Finally, GAMMA Investing LLC increased its position in Apple Hospitality REIT by 80.9% during the 4th quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 2,193 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

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.