Apple Hospitality REIT (NYSE:APLE) Price Target Raised to $18.00

Apple Hospitality REIT (NYSE:APLE) had its price objective raised by Cantor Fitzgerald from $16.00 to $18.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on APLE. JPMorgan Chase & Co. lifted their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. LADENBURG THALM/SH SH raised their price target on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Bank of America lifted their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Finally, BMO Capital Markets upped their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Apple Hospitality REIT currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Apple Hospitality REIT Stock Up 1.0%

Apple Hospitality REIT stock opened at $15.89 on Tuesday. The business’s 50-day moving average price is $16.45 and its 200 day moving average price is $14.05. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 3.01 and a beta of 0.88. Apple Hospitality REIT has a 52 week low of $10.85 and a 52 week high of $17.28.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%.The company had revenue of $402.55 million during the quarter, compared to the consensus estimate of $391.88 million. As a group, sell-side analysts anticipate that Apple Hospitality REIT will post 1.64 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 6.0%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 129.73%.

Hedge Funds Weigh In On Apple Hospitality REIT

Large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its holdings in 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 valued at $31,000 after purchasing an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC increased 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. Danske Bank A S purchased a new stake in shares of Apple Hospitality REIT during the third quarter worth about $36,000. Godfrey Financial Associates Inc. acquired a new position in shares of Apple Hospitality REIT during the 4th quarter worth about $43,000. Finally, Inspire Investing LLC raised its position in shares of Apple Hospitality REIT by 2,965.1% during the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 3,736 shares during 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 (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.