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

Apple Hospitality REIT, Inc. (NYSE:APLE) was the target of 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 trading volume of 2,280,000 shares, the days-to-cover ratio is presently 5.9 days.

Apple Hospitality REIT Stock Performance

APLE traded up $0.04 on Tuesday, reaching $14.38. The company had a trading volume of 1,972,393 shares, compared to its average volume of 2,104,862. Apple Hospitality REIT has a fifty-two week low of $13.60 and a fifty-two week high of $17.90. The stock has a market cap of $3.48 billion, a P/E ratio of 16.76 and a beta of 1.12. The company’s fifty day moving average is $14.39 and its 200 day moving average is $14.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $390.08 million for the quarter, compared to analyst estimates of $388.82 million. During the same quarter in the previous year, the company earned $0.49 EPS. As a group, analysts predict that Apple Hospitality REIT will post 1.61 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.68%. Apple Hospitality REIT’s payout ratio is presently 111.63%.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of $14.04 per share, with a total value of $70,200.00. Following the transaction, the chairman now directly owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. 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. Quarry LP boosted its position 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 acquiring an additional 1,290 shares in the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Apple Hospitality REIT during the 1st quarter worth approximately $37,000. Finally, Fortis Group Advisors LLC boosted its position 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 acquiring an additional 1,493 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on APLE. Wells Fargo & Company cut 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 report on Friday. Oppenheimer dropped their target price on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Finally, Wedbush assumed coverage on shares of Apple Hospitality REIT in a report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 target price on the stock. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.25.

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.