Apple Hospitality REIT, Inc. (NYSE:APLE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have received an average rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $14.50.

A number of brokerages have recently commented on APLE. Wells Fargo & Company raised Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Cantor Fitzgerald started coverage on Apple Hospitality REIT in a research report on Wednesday, October 1st. They set an “overweight” rating and a $14.00 price target for the company. Robert W. Baird lowered their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Apple Hospitality REIT in a research report on Thursday.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE opened at $11.19 on Friday. The company has a market cap of $2.65 billion, a P/E ratio of 14.91 and a beta of 1.02. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT has a 52 week low of $10.44 and a 52 week high of $16.50. The business has a fifty day simple moving average of $12.15 and a 200-day simple moving average of $12.00.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $384.37 million during the quarter, compared to the consensus estimate of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. Equities research analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be given a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend is Friday, October 31st. Apple Hospitality REIT’s payout ratio is 128.00%.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $12.29 per share, with a total value of $61,450.00. Following the completion of the transaction, the chairman owned 705,344 shares in the company, valued at approximately $8,668,677.76. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of institutional investors have recently added to or reduced their stakes in APLE. Hantz Financial Services Inc. lifted its stake in shares of Apple Hospitality REIT by 12,230.0% during the second quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 2,446 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,814 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Apple Hospitality REIT by 444.4% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,280 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,640 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Apple Hospitality REIT by 97.5% during the second quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,872 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

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.