Analysts Set Apple Hospitality REIT, Inc. (NYSE:APLE) PT at $16.80

Apple Hospitality REIT, Inc. (NYSE:APLE) has earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.80.

A number of research firms recently issued reports on APLE. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Wells Fargo & Company cut their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th.

Apple Hospitality REIT Stock Up 0.0 %

Shares of NYSE APLE opened at $11.51 on Friday. Apple Hospitality REIT has a 1 year low of $10.44 and a 1 year high of $16.50. The stock has a market capitalization of $2.75 billion, a P/E ratio of 13.54 and a beta of 1.00. 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 company has a 50-day moving average price of $13.59 and a 200-day moving average price of $14.77.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The company had revenue of $333.04 million during the quarter, compared to the consensus estimate of $330.11 million. On average, equities research analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 8.34%. The ex-dividend date of this dividend was Monday, March 31st. Apple Hospitality REIT’s payout ratio is currently 109.09%.

Institutional Trading of Apple Hospitality REIT

Institutional investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. boosted its position in Apple Hospitality REIT by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 23,850 shares of the real estate investment trust’s stock valued at $366,000 after buying an additional 755 shares during the period. Quadrant Capital Group LLC lifted its position in Apple Hospitality REIT by 20.1% during the 4th quarter. Quadrant Capital Group LLC now owns 6,740 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 1,128 shares during the period. Inspire Advisors LLC boosted its position in shares of Apple Hospitality REIT by 8.5% in the 4th quarter. Inspire Advisors LLC now owns 14,502 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 1,137 shares in the last quarter. Keybank National Association OH boosted its holdings in Apple Hospitality REIT by 3.1% in the fourth quarter. Keybank National Association OH now owns 40,163 shares of the real estate investment trust’s stock worth $617,000 after acquiring an additional 1,218 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. boosted its stake in Apple Hospitality REIT by 4.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 27,079 shares of the real estate investment trust’s stock worth $416,000 after purchasing an additional 1,272 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other 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.