Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $16.80 Average Price Target from Analysts

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have earned an average rating of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $16.80.

Several research analysts recently commented on APLE shares. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Wells Fargo & Company dropped their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd.

Institutional Trading of Apple Hospitality REIT

Several hedge funds and other institutional investors have recently bought and sold shares of APLE. Price T Rowe Associates Inc. MD grew its position in Apple Hospitality REIT by 27.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust’s stock worth $126,472,000 after purchasing an additional 1,761,996 shares during the last quarter. Norges Bank acquired a new position in Apple Hospitality REIT in the fourth quarter worth about $21,099,000. ExodusPoint Capital Management LP raised its position in Apple Hospitality REIT by 126.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 899,842 shares of the real estate investment trust’s stock worth $13,813,000 after purchasing an additional 503,114 shares in the last quarter. Woodline Partners LP acquired a new position in Apple Hospitality REIT in the fourth quarter worth about $5,898,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Apple Hospitality REIT in the fourth quarter worth about $5,451,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Trading Down 1.5 %

Apple Hospitality REIT stock opened at $13.31 on Wednesday. The company has a 50 day moving average price of $14.79 and a 200 day moving average price of $15.09. Apple Hospitality REIT has a 52 week low of $13.01 and a 52 week high of $16.83. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 15.65 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $333.04 million during the quarter, compared to the consensus estimate of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. Research analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 7.22%. Apple Hospitality REIT’s dividend payout ratio is 109.09%.

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.