Apple Hospitality REIT (NYSE:APLE) Reaches New 1-Year High – Still a Buy?

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.38 and last traded at $16.3650, with a volume of 2513359 shares. The stock had previously closed at $16.15.

Analysts Set New Price Targets

A number of research firms have recently weighed in on APLE. LADENBURG THALM/SH SH raised their price target on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday. Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. initiated coverage on shares of Apple Hospitality REIT in a report on Monday, June 1st. They set a “neutral” rating and a $15.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, Cantor Fitzgerald upped their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.94.

Apple Hospitality REIT Stock Up 2.2%

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 firm has a market capitalization of $3.92 billion, a P/E ratio of 22.76, a P/E/G ratio of 7.94 and a beta of 0.89. The stock has a fifty day moving average price of $14.21 and a two-hundred day moving average price of $12.80.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The firm had revenue of $337.74 million for the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. Research analysts forecast that Apple Hospitality REIT, Inc. will post 1.58 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Apple Hospitality REIT’s dividend payout ratio is 131.51%.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was acquired 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 approximately $10,430,786.36. This represents a 0.67% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its stake in Apple Hospitality REIT by 2.8% in the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock valued at $2,205,000 after acquiring an additional 4,712 shares during the period. AQR Capital Management LLC grew its holdings in shares of Apple Hospitality REIT by 114.3% during the first quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock valued at $1,732,000 after purchasing an additional 72,553 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Apple Hospitality REIT by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock worth $1,776,000 after purchasing an additional 6,788 shares during the period. NewEdge Advisors LLC raised its position in shares of Apple Hospitality REIT by 295.9% during the 1st 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 during the period. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Apple Hospitality REIT by 10,235.7% in the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 21,495 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

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.