Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $16.60 Consensus Target Price from Analysts

Apple Hospitality REIT, Inc. (NYSE:APLE) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $16.60.

A number of equities research analysts recently weighed in on APLE shares. Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Oppenheimer reiterated an “outperform” rating and set a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price for the company.

Apple Hospitality REIT Stock Performance

Shares of Apple Hospitality REIT stock opened at $15.43 on Tuesday. Apple Hospitality REIT has a 12 month low of $13.60 and a 12 month high of $16.99. The stock’s fifty day moving average price is $15.53 and its 200-day moving average price is $15.06. The firm has a market cap of $3.70 billion, a P/E ratio of 18.15 and a beta of 1.13. 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 posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. During the same quarter in the prior year, the firm posted $0.45 EPS. On average, equities research analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.22%. The ex-dividend date of this dividend is Friday, January 31st. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP increased its stake in shares of Apple Hospitality REIT by 127.5% in the second 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 during the period. GAMMA Investing LLC grew its holdings in Apple Hospitality REIT by 40.4% during the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 780 shares during the period. Covestor Ltd raised its position in Apple Hospitality REIT by 30.0% during the third quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 1,831 shares in the last quarter. KBC Group NV lifted its holdings in Apple Hospitality REIT by 37.8% in the fourth quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 2,541 shares during the period. Finally, Entropy Technologies LP purchased a new stake in Apple Hospitality REIT in the 4th quarter worth approximately $159,000. Hedge funds and other 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.