Apple Hospitality REIT (NYSE:APLE) Upgraded at Bank of America

Bank of America upgraded shares of Apple Hospitality REIT (NYSE:APLE) from a neutral rating to a buy rating in a report released on Monday, Marketbeat.com reports. The brokerage currently has $17.00 price target on the real estate investment trust’s stock, up from their prior price target of $16.00.

Several other analysts have also weighed in on APLE. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Oppenheimer reiterated 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. Finally, BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Moderate Buy” and an average target price of $16.60.

Apple Hospitality REIT Trading Down 1.8 %

Shares of APLE stock opened at $15.43 on Monday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $16.99. The firm’s fifty day simple moving average is $15.55 and its 200 day simple moving average is $15.05. The firm has a market capitalization of $3.70 billion, a P/E ratio of 18.15 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results 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). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The company had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. During the same quarter in the previous year, the business posted $0.45 EPS. As a group, sell-side analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.22%. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in shares of Apple Hospitality REIT by 11.9% in the 3rd quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock worth $100,059,000 after acquiring an additional 718,844 shares in the last quarter. Advisors Preferred LLC bought a new position in Apple Hospitality REIT in the 4th quarter valued at $4,651,000. Holocene Advisors LP acquired a new position in Apple Hospitality REIT in the third quarter worth $4,285,000. Barclays PLC grew its holdings in shares of Apple Hospitality REIT by 118.8% during the third quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust’s stock worth $6,273,000 after purchasing an additional 229,293 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Apple Hospitality REIT by 11.0% during the third quarter. Systematic Financial Management LP now owns 2,099,877 shares of the real estate investment trust’s stock worth $31,183,000 after purchasing an additional 207,256 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

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 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.