Apple Hospitality REIT, Inc. (NYSE:APLE) Receives Average Rating of “Hold” from Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been given a consensus rating of “Hold” by the ten analysts that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $16.00.

Several research analysts recently commented on APLE shares. Barclays reaffirmed an “equal weight” rating and issued a $17.00 target price (up from $16.00) on shares of Apple Hospitality REIT in a research note on Tuesday, July 21st. Cantor Fitzgerald boosted their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Wells Fargo & Company upped their price objective on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. raised their target price on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st.

Insider Buying and Selling

In related news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the acquisition, the chairman directly owned 747,191 shares in the company, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.90% of the stock is owned by insiders.

Institutional Trading of Apple Hospitality REIT

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its position in shares of 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 acquiring an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Apple Hospitality REIT by 1,375.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,640 shares during the period. Danske Bank A S purchased a new stake in Apple Hospitality REIT in the third quarter worth $36,000. Godfrey Financial Associates Inc. bought a new position in Apple Hospitality REIT in the fourth quarter worth $43,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Apple Hospitality REIT by 97.5% during the second quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,872 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Up 0.2%

APLE opened at $16.55 on Tuesday. The company has a market cap of $3.91 billion, a P/E ratio of 22.66, a P/E/G ratio of 3.23 and a beta of 0.88. The business’s 50-day moving average price is $16.28 and its 200-day moving average price is $13.85. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. Apple Hospitality REIT has a 12 month low of $10.85 and a 12 month high of $17.13.

Apple Hospitality REIT (NYSE:APLE) last issued 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 return on equity of 5.43% and a net margin of 12.08%.The company had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. On average, equities analysts expect that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 31st will be issued a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, July 31st. Apple Hospitality REIT’s dividend payout ratio is currently 131.51%.

About Apple Hospitality REIT

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.