Apple Hospitality REIT (NYSE:APLE) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Apple Hospitality REIT (NYSE:APLE) from a hold rating to a sell rating in a research report released on Thursday morning.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company decreased their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Oppenheimer reiterated an “outperform” rating and issued a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Apple Hospitality REIT currently has an average rating of “Hold” and an average target price of $16.50.

Apple Hospitality REIT Price Performance

Apple Hospitality REIT stock traded down $0.08 during trading hours on Thursday, hitting $15.51. 452,068 shares of the company traded hands, compared to its average volume of 2,055,403. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $17.90. The firm has a market cap of $3.72 billion, a P/E ratio of 18.35 and a beta of 1.11. The firm’s 50-day simple moving average is $14.98 and its two-hundred day simple moving average is $14.65. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $377.56 million. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date of this dividend is Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

Institutional Trading of Apple Hospitality REIT

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in Apple Hospitality REIT by 196.2% during the first quarter. SG Americas Securities LLC now owns 28,322 shares of the real estate investment trust’s stock valued at $464,000 after purchasing an additional 18,760 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Apple Hospitality REIT by 16.9% in the 1st quarter. Russell Investments Group Ltd. now owns 187,613 shares of the real estate investment trust’s stock valued at $3,073,000 after buying an additional 27,076 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Apple Hospitality REIT by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 43,425 shares of the real estate investment trust’s stock valued at $711,000 after buying an additional 2,991 shares in the last quarter. Entropy Technologies LP bought a new position in Apple Hospitality REIT during the first quarter valued at approximately $338,000. Finally, State Board of Administration of Florida Retirement System raised its position in Apple Hospitality REIT by 1.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock valued at $986,000 after acquiring an additional 1,050 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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.