Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $16.60 Average Price Target from Analysts

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have earned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $16.60.

A number of research analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 price target for the company. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.00 to $17.00 in a research note on Monday.

Institutional Investors Weigh In On Apple Hospitality REIT

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Apple Hospitality REIT by 11.9% during the 3rd quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock valued at $100,059,000 after buying an additional 718,844 shares in the last quarter. Geode Capital Management LLC lifted its position in Apple Hospitality REIT by 1.1% in the third quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock worth $85,571,000 after buying an additional 62,149 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Apple Hospitality REIT by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 5,243,575 shares of the real estate investment trust’s stock worth $77,867,000 after buying an additional 18,858 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Apple Hospitality REIT by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock valued at $66,187,000 after acquiring an additional 182,917 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Apple Hospitality REIT by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after acquiring an additional 154,159 shares during the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Up 0.8 %

APLE opened at $15.52 on Tuesday. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $16.99. The firm’s 50 day simple moving average is $15.55 and its two-hundred day simple moving average is $15.05. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $3.72 billion, a PE ratio of 18.25 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The company had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, equities analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, January 31st. This represents a $0.96 annualized dividend and a yield of 6.19%. Apple Hospitality REIT’s payout ratio is 112.94%.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.