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

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been given a consensus rating of “Hold” by the five brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.80.

APLE has been the topic of several research reports. Oppenheimer restated an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a research note on Monday. They issued an “outperform” rating and a $18.00 price target on the stock. Wells Fargo & Company lowered their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd.

Institutional Trading of Apple Hospitality REIT

A number of large investors have recently made changes to their positions in the stock. QRG Capital Management Inc. raised its position in Apple Hospitality REIT by 1.6% during the 2nd quarter. QRG Capital Management Inc. now owns 102,492 shares of the real estate investment trust’s stock valued at $1,490,000 after purchasing an additional 1,590 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in Apple Hospitality REIT by 12.7% in the second quarter. AlphaMark Advisors LLC now owns 20,664 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 2,333 shares during the period. Vanderbilt University bought a new position in Apple Hospitality REIT during the 2nd quarter worth about $337,000. Blue Trust Inc. increased its position in Apple Hospitality REIT by 15.5% during the 2nd quarter. Blue Trust Inc. now owns 9,657 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 1,299 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Apple Hospitality REIT by 5.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 251,347 shares of the real estate investment trust’s stock valued at $3,655,000 after purchasing an additional 12,005 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock opened at $16.24 on Monday. Apple Hospitality REIT has a fifty-two week low of $13.60 and a fifty-two week high of $17.90. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 19.11 and a beta of 1.13. 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 stock’s 50 day simple moving average is $15.49 and its two-hundred day simple moving average is $14.82.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 EPS 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 firm had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. During the same period last year, the company posted $0.45 earnings per share. As a group, analysts expect 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, December 16th. Shareholders of record on Friday, November 29th will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 5.91%. The ex-dividend date is Friday, November 29th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

About Apple Hospitality REIT

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.