Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $13.94 Consensus Target Price from Brokerages

Apple Hospitality REIT, Inc. (NYSE:APLE) has received an average recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $14.4375.

A number of research analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on Apple Hospitality REIT in a research note on Monday, June 1st. They set a “neutral” rating and a $15.00 price objective on the stock. Barclays boosted their price objective on Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Wells Fargo & Company boosted their price objective on Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Finally, BMO Capital Markets boosted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction on Monday, May 11th. The shares were bought at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the purchase, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of institutional investors have recently added to or reduced their stakes in APLE. Royal Bank of Canada lifted its holdings in Apple Hospitality REIT by 2.8% in the 1st quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock worth $2,205,000 after buying an additional 4,712 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Apple Hospitality REIT by 114.3% in the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock worth $1,732,000 after buying an additional 72,553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Apple Hospitality REIT by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock worth $1,776,000 after buying an additional 6,788 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,814 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Apple Hospitality REIT by 10,235.7% in the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 21,495 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Down 0.1%

Shares of NYSE APLE opened at $16.21 on Monday. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $16.35. The firm has a fifty day moving average of $13.83 and a 200-day moving average of $12.68. The stock has a market capitalization of $3.83 billion, a PE ratio of 22.20, a P/E/G ratio of 7.92 and a beta of 0.89. 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 (NYSE:APLE) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share 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 business had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. On average, analysts anticipate that Apple Hospitality REIT will post 1.58 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Friday, May 29th. Apple Hospitality REIT’s payout ratio is currently 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.