Apple Hospitality REIT, Inc. (NYSE:APLE) Receives Consensus Rating of “Hold” from Brokerages

Apple Hospitality REIT, Inc. (NYSE:APLE) has earned an average recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $16.80.

Several analysts recently commented on APLE shares. Oppenheimer reiterated an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. BMO Capital Markets began coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in Apple Hospitality REIT by 2,643.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 38,330 shares of the real estate investment trust’s stock valued at $557,000 after purchasing an additional 36,933 shares in the last quarter. Van ECK Associates Corp grew its stake in Apple Hospitality REIT by 12.8% in the 2nd quarter. Van ECK Associates Corp now owns 34,879 shares of the real estate investment trust’s stock worth $507,000 after acquiring an additional 3,948 shares during the period. Rhumbline Advisers raised its holdings in Apple Hospitality REIT by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 729,227 shares of the real estate investment trust’s stock valued at $10,603,000 after acquiring an additional 30,434 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Apple Hospitality REIT by 17.2% in the 2nd quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock valued at $87,518,000 after acquiring an additional 881,217 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Apple Hospitality REIT by 7.9% during the second quarter. Arizona State Retirement System now owns 64,453 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 4,716 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

Shares of APLE stock opened at $15.14 on Friday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a 50 day simple moving average of $15.68 and a 200-day simple moving average of $14.95. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 17.81 and a beta of 1.13. Apple Hospitality REIT has a 12-month low of $13.60 and a 12-month high of $17.08.

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). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $378.84 million during the quarter, compared to analysts’ expectations of $377.56 million. During the same quarter in the previous year, the company posted $0.45 EPS. On average, equities analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.34%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

About Apple Hospitality REIT

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.