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

Apple Hospitality REIT, Inc. (NYSE:APLE) has earned an average recommendation of “Hold” from the eight ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $12.9286.

Several analysts have issued reports on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price objective for the company. Barclays lowered their price objective on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Cantor Fitzgerald raised their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company decreased their price target on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday, April 22nd.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the transaction, the chairman owned 747,191 shares of the company’s stock, valued at $10,430,786.36. This represents a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Apple Hospitality REIT

Several large investors have recently added to or reduced their stakes in APLE. Norges Bank bought a new position in Apple Hospitality REIT during the fourth quarter worth $40,950,000. Centerbridge Partners L.P. lifted its stake in Apple Hospitality REIT by 88.2% during the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock worth $50,123,000 after purchasing an additional 1,982,000 shares during the last quarter. UBS Group AG lifted its stake in Apple Hospitality REIT by 60.8% during the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock worth $55,950,000 after purchasing an additional 1,786,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Apple Hospitality REIT during the fourth quarter worth $13,361,000. Finally, Pacer Advisors Inc. bought a new position in Apple Hospitality REIT during the fourth quarter worth $11,498,000. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Stock Down 0.2%

Shares of NYSE:APLE opened at $13.81 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $14.19. The company has a 50 day moving average of $12.48 and a two-hundred day moving average of $12.15. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 8.26 and a beta of 0.88.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The company had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. As a group, analysts forecast that Apple Hospitality REIT will post 1.55 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 131.51%.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.