Apple Hospitality REIT (NYSE:APLE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Apple Hospitality REIT (NYSE:APLE – Get Rating) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the real estate investment trust’s stock.

Separately, Wells Fargo & Company increased their price target on Apple Hospitality REIT from $17.00 to $18.00 and gave the company an equal weight rating in a report on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $19.75.

Apple Hospitality REIT Stock Performance

APLE opened at $14.80 on Thursday. The stock has a 50-day moving average of $16.79 and a 200-day moving average of $16.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.03 and a current ratio of 0.03. Apple Hospitality REIT has a 52-week low of $13.79 and a 52-week high of $18.69. The company has a market cap of $3.38 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 0.48 and a beta of 1.17.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $0.96 annualized dividend and a yield of 6.49%. Apple Hospitality REIT’s payout ratio is 150.00%.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction dated Monday, February 27th. The shares were acquired at an average price of $16.90 per share, for a total transaction of $84,500.00. Following the completion of the purchase, the chairman now owns 503,093 shares in the company, valued at approximately $8,502,271.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in Apple Hospitality REIT in the 1st quarter valued at $25,000. Lazard Asset Management LLC acquired a new stake in shares of Apple Hospitality REIT during the 2nd quarter valued at about $29,000. Ronald Blue Trust Inc. increased its stake in Apple Hospitality REIT by 145.0% in the third quarter. Ronald Blue Trust Inc. now owns 2,528 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 1,496 shares during the period. CWM LLC raised its position in Apple Hospitality REIT by 7,602.3% in the third quarter. CWM LLC now owns 3,312 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 3,269 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Apple Hospitality REIT during the third quarter worth about $67,000. 79.39% of the stock is currently owned by institutional investors and hedge funds.

About Apple Hospitality REIT

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Apple Hospitality REIT, Inc is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. It owns hotels located in urban, high-end suburban, and developing markets throughout states, which operates under Marriott, Hilton, or Hyatt brands.