Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $17.00 Average Price Target from Analysts

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have received an average rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.25.

A number of brokerages recently weighed in on APLE. Oppenheimer decreased their price target on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Wells Fargo & Company decreased their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Wedbush began coverage on shares of Apple Hospitality REIT in a research note on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price target on the stock.

Apple Hospitality REIT Trading Up 0.8 %

APLE stock opened at $14.28 on Wednesday. The company’s 50-day simple moving average is $14.39 and its 200-day simple moving average is $14.94. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.46. Apple Hospitality REIT has a 52-week low of $13.60 and a 52-week high of $17.90. The firm has a market cap of $3.46 billion, a P/E ratio of 16.60 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results 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 return on equity of 6.30% and a net margin of 14.91%. The firm had revenue of $390.08 million for the quarter, compared to analysts’ expectations of $388.82 million. During the same period in the previous year, the company earned $0.49 earnings per share. As a group, equities analysts forecast that Apple Hospitality REIT will post 1.61 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date is Friday, August 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is 111.63%.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $14.04 per share, with a total value of $70,200.00. Following the purchase, the chairman now directly owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in shares of Apple Hospitality REIT during the 4th quarter worth approximately $26,000. EdgeRock Capital LLC acquired a new stake in shares of Apple Hospitality REIT during the 2nd quarter worth approximately $26,000. YHB Investment Advisors Inc. acquired a new stake in shares of Apple Hospitality REIT during the 1st quarter worth approximately $37,000. Quarry LP increased its holdings in shares of 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 last quarter. Finally, Fortis Group Advisors LLC increased its holdings in shares of Apple Hospitality REIT by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,493 shares during 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.