Apple Hospitality REIT (NYSE:APLE) Downgraded by Barclays to “Hold”

Barclays cut shares of Apple Hospitality REIT (NYSE:APLE) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on the stock. BMO Capital Markets lifted their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, June 12th. Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. raised their price objective on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday. Cantor Fitzgerald boosted their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, Bank of America upped their target price on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.75.

Apple Hospitality REIT Stock Up 1.0%

NYSE:APLE opened at $17.07 on Tuesday. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $17.09. The stock has a market capitalization of $4.03 billion, a P/E ratio of 23.39, a P/E/G ratio of 8.18 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The company’s 50-day simple moving average is $15.83 and its 200-day simple moving average is $13.56.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, topping 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 firm had revenue of $337.74 million during the quarter, compared to analyst estimates of $327.81 million. On average, equities analysts anticipate that Apple Hospitality REIT will post 1.59 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 Monday, August 17th. Shareholders of record on Friday, July 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 131.51%.

Insider Activity at Apple Hospitality REIT

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

Hedge Funds Weigh In On Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APLE. Palouse Capital Management Inc. boosted its stake in shares of Apple Hospitality REIT by 21.1% in the second quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 750 shares during the last quarter. Private Advisor Group LLC raised its position in Apple Hospitality REIT by 7.9% during the third quarter. Private Advisor Group LLC now owns 13,883 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 1,022 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Apple Hospitality REIT by 0.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock valued at $2,764,000 after acquiring an additional 1,068 shares during the period. MML Investors Services LLC boosted its position in Apple Hospitality REIT by 1.4% in the 2nd quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Apple Hospitality REIT by 9.3% in the 4th quarter. Captrust Financial Advisors now owns 13,519 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 1,149 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

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.