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

Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week high on Monday . The stock traded as high as $17.09 and last traded at $17.0550, with a volume of 208414 shares trading hands. The stock had previously closed at $16.84.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. LADENBURG THALM/SH SH upped their target price 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, June 18th. BMO Capital Markets increased their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, June 12th. Finally, Cantor Fitzgerald lifted their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.94.

Apple Hospitality REIT Trading Up 1.1%

The stock has a 50-day moving average of $15.70 and a two-hundred day moving average of $13.49. The company has a market cap of $4.02 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 8.22 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.

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, topping 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 business had revenue of $337.74 million for the quarter, compared to the consensus estimate of $327.81 million. On average, equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Apple Hospitality REIT’s payout ratio is currently 131.51%.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost of $13.96 per share, with a total value of $69,800.00. Following the transaction, the chairman owned 747,191 shares of the company’s stock, valued at $10,430,786.36. This trade represents a 0.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.90% of the stock is currently owned by insiders.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors and hedge funds have recently bought and sold shares of APLE. NewEdge Advisors LLC raised its holdings in Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,814 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 2,640 shares during the last quarter. Danske Bank A S bought a new stake in shares of Apple Hospitality REIT during the third quarter valued at approximately $36,000. Godfrey Financial Associates Inc. purchased a new position in Apple Hospitality REIT in the 4th quarter worth approximately $43,000. Finally, Inspire Investing LLC raised its holdings in Apple Hospitality REIT by 2,965.1% in the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 3,736 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.