Apple Hospitality REIT (APLE) Downgraded to Hold at ValuEngine

ValuEngine lowered shares of Apple Hospitality REIT (NYSE:APLE) from a buy rating to a hold rating in a report published on Monday morning.

Several other equities analysts have also commented on the company. Zacks Investment Research upgraded Apple Hospitality REIT from a sell rating to a hold rating in a research note on Tuesday, March 27th. Barclays restated an equal weight rating and set a $20.00 price target (down previously from $21.00) on shares of Apple Hospitality REIT in a research note on Tuesday, February 27th. Robert W. Baird set a $20.00 target price on Apple Hospitality REIT and gave the company a buy rating in a research note on Monday, February 26th. B. Riley set a $20.00 target price on Apple Hospitality REIT and gave the company a hold rating in a research note on Friday, February 23rd. Finally, TheStreet lowered Apple Hospitality REIT from a b rating to a c rating in a research note on Thursday, February 8th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $20.20.

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Shares of Apple Hospitality REIT stock opened at $17.63 on Monday. The firm has a market cap of $4,058.50, a PE ratio of 10.13, a PEG ratio of 2.01 and a beta of 0.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT has a 12 month low of $16.72 and a 12 month high of $20.19.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $289.07 million for the quarter, compared to analyst estimates of $288.75 million. Apple Hospitality REIT had a return on equity of 5.19% and a net margin of 14.73%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. sell-side analysts predict that Apple Hospitality REIT will post 1.75 earnings per share for the current year.

The business also recently announced a monthly dividend, which will be paid on Monday, April 16th. Shareholders of record on Tuesday, April 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, April 2nd. This represents a $1.20 annualized dividend and a yield of 6.81%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 68.97%.

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,800 shares of the stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of $17.10 per share, with a total value of $99,180.00. Following the completion of the acquisition, the chairman now owns 10,052,157 shares in the company, valued at $171,891,884.70. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Justin G. Knight purchased 2,800 shares of the stock in a transaction on Wednesday, March 14th. The stock was acquired at an average cost of $17.38 per share, with a total value of $48,664.00. Following the acquisition, the insider now owns 1,109,681 shares of the company’s stock, valued at approximately $19,286,255.78. The disclosure for this purchase can be found here. Insiders acquired 33,504 shares of company stock worth $573,262 in the last quarter. 6.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE boosted its holdings in Apple Hospitality REIT by 132.3% in the fourth quarter. US Bancorp DE now owns 5,479 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 3,120 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Apple Hospitality REIT by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock worth $132,000 after acquiring an additional 494 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Apple Hospitality REIT in the fourth quarter worth about $213,000. Public Employees Retirement Association of Colorado boosted its holdings in Apple Hospitality REIT by 67.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 11,071 shares of the real estate investment trust’s stock worth $217,000 after acquiring an additional 4,468 shares in the last quarter. Finally, Evermay Wealth Management LLC acquired a new stake in Apple Hospitality REIT in the fourth quarter worth about $218,000. 54.49% of the stock is owned by institutional investors and hedge funds.

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Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Apple Hospitality REIT (NYSE:APLE)

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