Apple Hospitality REIT (NYSE:APLE) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Apple Hospitality REIT (NYSE:APLE) from a sell rating to a hold rating in a research report report published on Friday morning.

Several other research analysts also recently commented on APLE. Wells Fargo & Company reduced their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Oppenheimer restated an “outperform” rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.50.

Apple Hospitality REIT Trading Up 2.2 %

NYSE APLE opened at $16.09 on Friday. The stock has a market cap of $3.86 billion, a PE ratio of 18.93 and a beta of 1.11. Apple Hospitality REIT has a 12 month low of $13.60 and a 12 month high of $17.90. The company’s 50-day moving average price is $15.12 and its 200-day moving average price is $14.68. 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 released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). The company had revenue of $378.84 million during the quarter, compared to analysts’ expectations of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same period last year, the firm earned $0.45 earnings per share. Equities research analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date is Friday, November 29th. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

Institutional Trading of Apple Hospitality REIT

Hedge funds and other institutional investors have recently bought and sold shares of the stock. TD Private Client Wealth LLC raised its position in shares of Apple Hospitality REIT by 14.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 11,727 shares of the real estate investment trust’s stock worth $174,000 after acquiring an additional 1,490 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Apple Hospitality REIT in the third quarter valued at about $1,778,000. Geode Capital Management LLC raised its holdings in Apple Hospitality REIT by 1.1% in the third quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock worth $85,571,000 after purchasing an additional 62,149 shares in the last quarter. Barclays PLC lifted its position in shares of Apple Hospitality REIT by 118.8% during the third quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust’s stock valued at $6,273,000 after buying an additional 229,293 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Apple Hospitality REIT by 0.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 284,100 shares of the real estate investment trust’s stock valued at $4,219,000 after buying an additional 2,200 shares in the last quarter. Institutional investors 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.