Apple Hospitality REIT (NYSE:APLE) Price Target Raised to $19.00

Apple Hospitality REIT (NYSE:APLE) had its target price upped by Ladenburg Thalmann & Co. Inc. from $18.00 to $19.00 in a report issued on Monday,Benzinga reports. Ladenburg Thalmann & Co. Inc. currently has a neutral rating on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on the company. Barclays raised their price objective on Apple Hospitality REIT from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Apple Hospitality REIT in a research report on Friday, August 21st. Bank of America upped their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Zacks Research lowered shares of Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Finally, Wells Fargo & Company lifted their price target on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, October 26th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.19.

Apple Hospitality REIT Trading Down 1.8%

Shares of APLE opened at $19.79 on Monday. Apple Hospitality REIT has a 52-week low of $11.31 and a 52-week high of $20.25. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average is $16.94 and its two-hundred day moving average is $14.92. The stock has a market cap of $4.67 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 2.13 and a beta of 0.93.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Apple Hospitality REIT had a return on equity of 5.88% and a net margin of 12.62%. The business had revenue of $398.33 million during the quarter, compared to analyst estimates of $384.64 million. Research analysts forecast that Apple Hospitality REIT will post 1.63 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Friday, October 30th. Apple Hospitality REIT’s dividend payout ratio is 121.52%.

Institutional Investors Weigh In On Apple Hospitality REIT

Several hedge funds and other institutional investors have recently bought and sold shares of APLE. Advisors Asset Management Inc. acquired a new stake in shares of Apple Hospitality REIT during the third quarter worth about $5,277,000. Public Sector Pension Investment Board increased its position in Apple Hospitality REIT by 19.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,179,019 shares of the real estate investment trust’s stock valued at $19,371,000 after acquiring an additional 188,533 shares during the period. Global Retirement Partners LLC raised its stake in Apple Hospitality REIT by 981.4% during the 3rd quarter. Global Retirement Partners LLC now owns 8,316 shares of the real estate investment trust’s stock valued at $134,000 after acquiring an additional 7,547 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Apple Hospitality REIT during the 3rd quarter valued at approximately $6,733,000. Finally, HighTower Advisors LLC raised its stake in Apple Hospitality REIT by 10.7% during the 3rd quarter. HighTower Advisors LLC now owns 21,429 shares of the real estate investment trust’s stock valued at $346,000 after acquiring an additional 2,073 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc. is a real estate investment trust that owns a portfolio of hotels in the United States. Its properties primarily serve business and leisure travelers and operate in the upscale segment, including select-service and extended-stay formats. The company’s hotels are affiliated with well-known hospitality brands, including Marriott, Hilton and Hyatt. Apple Hospitality REIT owns the real estate and works with hotel operators to manage day-to-day operations. Formed in 2007, the company is headquartered in Richmond, Virginia.