B. Riley set a $20.00 target price on Apple Hospitality REIT (NYSE:APLE) in a research report released on Friday morning. The brokerage currently has a hold rating on the real estate investment trust’s stock.
APLE has been the subject of a number of other reports. Robert W. Baird set a $20.00 price objective on shares of Apple Hospitality REIT and gave the stock a buy rating in a research note on Sunday, October 29th. TheStreet cut shares of Apple Hospitality REIT from a b rating to a c rating in a research note on Thursday, February 8th. Zacks Investment Research cut shares of Apple Hospitality REIT from a hold rating to a sell rating in a research note on Thursday, November 9th. Barclays began coverage on shares of Apple Hospitality REIT in a research note on Wednesday, January 31st. They set an equal weight rating and a $21.00 target price for the company. Finally, BidaskClub raised shares of Apple Hospitality REIT from a sell rating to a hold rating in a research note on Friday, November 10th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $20.50.
Shares of Apple Hospitality REIT (NYSE:APLE) opened at $17.78 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market cap of $3,970.00 and a price-to-earnings ratio of 21.68. Apple Hospitality REIT has a 52 week low of $17.49 and a 52 week high of $20.30.
The business also recently announced a monthly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, March 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $1.20 annualized dividend and a yield of 6.75%. Apple Hospitality REIT’s payout ratio is 146.34%.
A number of institutional investors and hedge funds have recently bought and sold shares of APLE. US Bancorp DE grew its stake in Apple Hospitality REIT by 132.3% during the fourth quarter. US Bancorp DE now owns 5,479 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 3,120 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Apple Hospitality REIT by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 494 shares in the last quarter. Parametrica Management Ltd purchased a new position in Apple Hospitality REIT during the third quarter valued at $204,000. Cambridge Investment Research Advisors Inc. bought a new position in Apple Hospitality REIT during the fourth quarter valued at $213,000. Finally, Public Employees Retirement Association of Colorado lifted its position in Apple Hospitality REIT by 67.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 11,071 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 4,468 shares during the last quarter. 54.37% of the stock is owned by institutional investors.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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