Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $14.94 Average Target Price from Analysts

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been assigned an average rating of “Hold” from the nine research firms that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $14.9375.

A number of analysts recently commented on the company. Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. BMO Capital Markets raised their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, June 12th. JPMorgan Chase & Co. began coverage on shares of Apple Hospitality REIT in a research report on Monday, June 1st. They set a “neutral” rating and a $15.00 price target for the company. Cantor Fitzgerald boosted their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, LADENBURG THALM/SH SH boosted 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 note on Thursday, June 18th.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $13.96 per share, with a total value of $69,800.00. Following the purchase, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 6.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Palouse Capital Management Inc. grew its position in shares of Apple Hospitality REIT by 21.1% during the 2nd quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 750 shares during the period. GAMMA Investing LLC raised its position in shares of Apple Hospitality REIT by 15.5% in the 2nd quarter. GAMMA Investing LLC now owns 11,552 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 1,548 shares during the period. Cozad Asset Management Inc. raised its position in shares of Apple Hospitality REIT by 20.1% in the 1st quarter. Cozad Asset Management Inc. now owns 97,244 shares of the real estate investment trust’s stock valued at $1,119,000 after acquiring an additional 16,269 shares during the period. Bank of America Corp DE boosted its stake in Apple Hospitality REIT by 6.0% during the 1st quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust’s stock worth $23,585,000 after acquiring an additional 115,575 shares during the last quarter. Finally, Amundi boosted its stake in Apple Hospitality REIT by 2.8% during the 1st quarter. Amundi now owns 155,765 shares of the real estate investment trust’s stock worth $1,793,000 after acquiring an additional 4,200 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Up 1.8%

NYSE:APLE opened at $16.36 on Friday. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 7.85 and a beta of 0.87. 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 stock’s fifty day moving average price is $15.35 and its two-hundred day moving average price is $13.30. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $17.06.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The company had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. On average, analysts anticipate that Apple Hospitality REIT will post 1.58 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

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 given a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 5.9%. Apple Hospitality REIT’s payout ratio is presently 131.51%.

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.