Apple Hospitality REIT (NYSE:APLE) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

Apple Hospitality REIT, Inc. (NYSE:APLE)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $15.70 and traded as high as $16.92. Apple Hospitality REIT shares last traded at $16.8370, with a volume of 2,076,001 shares.

Analyst Ratings Changes

Several research firms recently weighed in on APLE. JPMorgan Chase & Co. assumed coverage on Apple Hospitality REIT in a report on Monday, June 1st. They set a “neutral” rating and a $15.00 price target on the stock. 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. Wells Fargo & Company boosted 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 research report on Monday, June 1st. LADENBURG THALM/SH SH raised their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, Barclays lifted their price target on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.94.

Apple Hospitality REIT Stock Down 0.1%

The company has a market cap of $3.97 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 8.23 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 business’s fifty day moving average is $15.70 and its two-hundred day moving average is $13.48.

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

Apple Hospitality REIT Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 5.7%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 131.51%.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the acquisition, the chairman owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently modified their holdings of APLE. State Street Corp lifted its holdings in Apple Hospitality REIT by 0.5% during the fourth quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust’s stock worth $154,627,000 after buying an additional 68,794 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in shares of Apple Hospitality REIT by 1.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust’s stock worth $84,227,000 after acquiring an additional 127,327 shares in the last quarter. UBS Group AG raised its position in shares of Apple Hospitality REIT by 60.8% in the 4th 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. Charles Schwab Investment Management Inc. raised its stake in shares of Apple Hospitality REIT by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust’s stock worth $55,871,000 after acquiring an additional 125,759 shares in the last quarter. Finally, Centerbridge Partners L.P. lifted its position 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 acquiring an additional 1,982,000 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors.

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.