Apple Hospitality REIT (NYSE:APLE) Research Coverage Started at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research report released on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $18.00 price objective on the real estate investment trust’s stock.

APLE has been the topic of a number of other reports. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Wells Fargo & Company decreased their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.80.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock opened at $16.24 on Monday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.90 billion, a PE ratio of 19.11 and a beta of 1.13. Apple Hospitality REIT has a 12-month low of $13.60 and a 12-month high of $17.90. The business’s 50-day moving average price is $15.49 and its two-hundred day moving average price is $14.82.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). The firm had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same period last year, the business earned $0.45 EPS. As a group, analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 5.91%. The ex-dividend date is Friday, November 29th. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

Institutional Investors Weigh In On Apple Hospitality REIT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in shares of Apple Hospitality REIT by 11.9% during the third quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock worth $100,059,000 after purchasing an additional 718,844 shares during the period. Geode Capital Management LLC raised its holdings in Apple Hospitality REIT by 1.1% during the third quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock worth $85,571,000 after buying an additional 62,149 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Apple Hospitality REIT by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock worth $66,187,000 after buying an additional 182,917 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Apple Hospitality REIT by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock valued at $49,072,000 after buying an additional 154,159 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of Apple Hospitality REIT by 2.1% during the second quarter. LSV Asset Management now owns 2,572,043 shares of the real estate investment trust’s stock valued at $37,398,000 after buying an additional 53,300 shares during the last quarter. 89.66% of the stock is owned by institutional investors.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.