Apple Hospitality REIT (NYSE:APLE) Sets New 1-Year High – Here’s Why

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week high on Tuesday . The stock traded as high as $14.61 and last traded at $14.61, with a volume of 54051 shares. The stock had previously closed at $14.47.

Wall Street Analyst Weigh In

APLE has been the subject of several research analyst reports. Cantor Fitzgerald upped their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Wells Fargo & Company reduced their price objective on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. LADENBURG THALM/SH SH initiated coverage on shares of Apple Hospitality REIT in a report on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price objective for the company. Barclays reduced their price objective on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Apple Hospitality REIT has a consensus rating of “Hold” and a consensus price target of $12.93.

Apple Hospitality REIT Stock Up 0.2%

The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 20.34 and a beta of 0.88. The stock’s fifty day simple moving average is $12.94 and its two-hundred day simple moving average is $12.36.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The company had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. On average, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.55 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Friday, May 29th. Apple Hospitality REIT’s dividend payout ratio is presently 131.51%.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $13.96 per share, with a total value of $69,800.00. Following the acquisition, the chairman owned 747,191 shares of the company’s stock, valued at $10,430,786.36. The trade was a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.90% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

A number of hedge funds have recently bought and sold shares of APLE. Norges Bank purchased a new stake in Apple Hospitality REIT during the fourth quarter valued at about $40,950,000. Centerbridge Partners L.P. lifted its stake in Apple Hospitality REIT by 88.2% during the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock valued at $50,123,000 after buying an additional 1,982,000 shares in the last quarter. UBS Group AG lifted its stake in Apple Hospitality REIT by 60.8% during the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock valued at $55,950,000 after buying an additional 1,786,018 shares in the last quarter. Rush Island Management LP purchased a new stake in Apple Hospitality REIT during the first quarter valued at about $17,143,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Apple Hospitality REIT during the fourth quarter valued at about $13,361,000. 89.66% of the stock is owned by hedge funds and other institutional investors.

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.