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

Apple Hospitality REIT, Inc. (NYSE:APLE) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 10,460,000 shares, an increase of 5.2% from the March 31st total of 9,940,000 shares. Based on an average daily trading volume, of 1,790,000 shares, the days-to-cover ratio is currently 5.8 days.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APLE shares. StockNews.com lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Bank of America lowered Apple Hospitality REIT from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $19.00 to $18.00 in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $18.40.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLE. Principal Securities Inc. purchased a new stake in Apple Hospitality REIT in the fourth quarter worth $26,000. EdgeRock Capital LLC purchased a new stake in Apple Hospitality REIT in the fourth quarter worth $27,000. YHB Investment Advisors Inc. purchased a new stake in Apple Hospitality REIT in the first quarter worth $37,000. GAMMA Investing LLC purchased a new stake in Apple Hospitality REIT in the fourth quarter worth $41,000. Finally, Fortis Group Advisors LLC lifted its stake in Apple Hospitality REIT by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,493 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $14.85 on Thursday. The firm has a market cap of $3.60 billion, a PE ratio of 19.03 and a beta of 1.08. Apple Hospitality REIT has a fifty-two week low of $14.22 and a fifty-two week high of $17.90. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.36 and a current ratio of 0.36. The business has a 50 day moving average price of $16.01 and a 200-day moving average price of $16.25.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date of this dividend is Monday, April 29th. Apple Hospitality REIT’s payout ratio is 123.08%.

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.