Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $16.80 Average Price Target from Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been assigned a consensus rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $16.80.

A number of research analysts recently commented on APLE shares. BMO Capital Markets started coverage on Apple Hospitality REIT in a report on Monday, December 9th. They issued an “outperform” rating and a $18.00 price target for the company. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Wells Fargo & Company reduced their price target on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their target price for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Finally, Oppenheimer reissued an “outperform” rating and issued a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th.

Hedge Funds Weigh In On Apple Hospitality REIT

Institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new position in Apple Hospitality REIT during the fourth quarter valued at about $31,000. Quarry LP lifted its position in shares of Apple Hospitality REIT by 128.1% during the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,751 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Apple Hospitality REIT during the 4th quarter worth about $51,000. GF Fund Management CO. LTD. acquired a new position in shares of Apple Hospitality REIT during the 4th quarter worth about $64,000. Finally, GAMMA Investing LLC lifted its position in shares of Apple Hospitality REIT by 80.9% during the 4th quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 2,193 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Stock Performance

Shares of NYSE:APLE opened at $14.45 on Friday. The firm has a market capitalization of $3.47 billion, a PE ratio of 17.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The business has a 50-day moving average of $15.21 and a two-hundred day moving average of $15.12. Apple Hospitality REIT has a 12 month low of $13.60 and a 12 month high of $16.99.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $333.04 million during the quarter, compared to analyst estimates of $330.11 million. As a group, research analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 6.64%. Apple Hospitality REIT’s payout ratio is 112.94%.

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.