Apple Hospitality REIT, Inc. (NYSE:APLE) Given Average Rating of “Hold” by Brokerages

Apple Hospitality REIT, Inc. (NYSE:APLE) has earned an average recommendation of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $16.00.

A number of research firms have recently issued reports on APLE. JPMorgan Chase & Co. boosted their price target on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. LADENBURG THALM/SH SH lifted 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. Wells Fargo & Company upped their price objective on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Thursday. Zacks Research raised shares of Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Finally, BMO Capital Markets lifted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, June 12th.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the transaction, the chairman directly owned 747,191 shares in the company, valued at approximately $10,430,786.36. This represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Palouse Capital Management Inc. raised its position in shares of Apple Hospitality REIT by 21.1% during the second quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 750 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Apple Hospitality REIT by 7.9% in the third quarter. Private Advisor Group LLC now owns 13,883 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 1,022 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Apple Hospitality REIT by 0.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock valued at $2,764,000 after acquiring an additional 1,068 shares during the last quarter. MML Investors Services LLC increased its position in Apple Hospitality REIT by 1.4% in the second quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 1,100 shares during the period. Finally, Captrust Financial Advisors increased its position in Apple Hospitality REIT by 9.3% in the fourth quarter. Captrust Financial Advisors now owns 13,519 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 1,149 shares during the period. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $16.88 on Tuesday. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 3.29 and a beta of 0.87. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $17.13. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $16.06 and a 200-day moving average of $13.70.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (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 for the quarter, compared to analysts’ expectations of $327.81 million. Analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 31st will be given a $0.08 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 5.7%. 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.