Analysts Set Apple Hospitality REIT, Inc. (NYSE:APLE) Target Price at $12.92

Apple Hospitality REIT, Inc. (NYSE:APLE) has been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $12.9167.

A number of equities research analysts have issued reports on 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. Barclays began coverage on Apple Hospitality REIT in a research note on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 price objective on the stock. Bank of America downgraded shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 target price for the company. in a research report on Tuesday, November 4th. Wells Fargo & Company upgraded shares of Apple Hospitality REIT to a “hold” rating in a report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Friday, December 26th.

Insider Buying and Selling

In other news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was acquired at an average cost of $11.91 per share, with a total value of $59,550.00. Following the acquisition, the chairman owned 710,344 shares in the company, valued at approximately $8,460,197.04. This trade represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders purchased 8,000 shares of company stock worth $95,180. Insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Centerbridge Partners L.P. bought a new position in shares of Apple Hospitality REIT during the second quarter valued at approximately $22,147,000. UBS Group AG boosted its position in Apple Hospitality REIT by 94.3% during the 3rd quarter. UBS Group AG now owns 2,935,463 shares of the real estate investment trust’s stock valued at $35,255,000 after purchasing an additional 1,424,287 shares during the period. Norges Bank bought a new position in Apple Hospitality REIT during the 2nd quarter worth $15,614,000. Arrowstreet Capital Limited Partnership grew its stake in Apple Hospitality REIT by 285.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,350,787 shares of the real estate investment trust’s stock worth $15,764,000 after buying an additional 1,000,214 shares during the last quarter. Finally, Edgestream Partners L.P. increased its position in Apple Hospitality REIT by 493.1% in the second quarter. Edgestream Partners L.P. now owns 982,159 shares of the real estate investment trust’s stock worth $11,462,000 after buying an additional 816,574 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Trading Up 0.5%

Shares of APLE stock opened at $12.49 on Friday. Apple Hospitality REIT has a fifty-two week low of $10.44 and a fifty-two week high of $16.01. The stock has a market cap of $2.95 billion, a P/E ratio of 17.10 and a beta of 0.85. The business has a fifty day simple moving average of $11.86 and a 200-day simple moving average of $12.05. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. Apple Hospitality REIT had a net margin of 12.37% and a return on equity of 5.46%. The business had revenue of $373.88 million for the quarter, compared to analyst estimates of $371.94 million. On average, 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 disclosed a monthly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Wednesday, December 31st. Apple Hospitality REIT’s payout ratio is currently 131.51%.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.