Apple Hospitality REIT (NYSE:APLE) Hits New 12-Month High – Should You Buy?

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $16.04 and last traded at $15.8750, with a volume of 2947094 shares. The stock had previously closed at $15.92.

Analysts Set New Price Targets

APLE has been the topic of a number of research reports. LADENBURG THALM/SH SH initiated coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They set a “neutral” rating and a $13.00 target price on the stock. Cantor Fitzgerald upped their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Barclays upped their target price on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Finally, Wells Fargo & Company increased their price objective on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and an average price target of $14.21.

Apple Hospitality REIT Price Performance

The company’s fifty day moving average is $13.65 and its two-hundred day moving average is $12.62. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 7.78 and a beta of 0.89.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. Equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, May 29th. This represents a c) annualized dividend and a yield of 6.0%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 131.51%.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the acquisition, the chairman owned 747,191 shares in the company, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

Several hedge funds have recently bought and sold shares of APLE. Norges Bank acquired a new stake in Apple Hospitality REIT in the fourth quarter worth $40,950,000. Centerbridge Partners L.P. increased its position in shares of 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 worth $50,123,000 after acquiring an additional 1,982,000 shares in the last quarter. UBS Group AG increased its position in shares of 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 worth $55,950,000 after acquiring an additional 1,786,018 shares in the last quarter. Rush Island Management LP bought a new stake in shares of Apple Hospitality REIT during the first quarter worth $17,143,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Apple Hospitality REIT during the fourth quarter worth $13,361,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

About Apple Hospitality REIT

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.