Apple Hospitality REIT (NYSE:APLE) Sets New 12-Month Low – Time to Sell?

Apple Hospitality REIT, Inc. (NYSE:APLE) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $13.01 and last traded at $13.12, with a volume of 576467 shares traded. The stock had previously closed at $13.51.

Wall Street Analyst Weigh In

APLE has been the subject of several research reports. Wells Fargo & Company dropped their target price on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. BMO Capital Markets initiated coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, 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 research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.80.

Apple Hospitality REIT Price Performance

The stock has a market cap of $3.19 billion, a P/E ratio of 15.65 and a beta of 1.12. The business has a 50-day simple moving average of $14.79 and a 200 day simple moving average of $15.10. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03.

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

Apple Hospitality REIT Announces Dividend

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

Hedge Funds Weigh In On Apple Hospitality REIT

A number of hedge funds have recently bought and sold shares of APLE. Aster Capital Management DIFC Ltd bought a new stake in Apple Hospitality REIT during the fourth quarter valued at $31,000. Quarry LP raised its position in shares of Apple Hospitality REIT by 128.1% in the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 1,751 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Apple Hospitality REIT in the 4th quarter valued at about $51,000. GF Fund Management CO. LTD. bought a new stake in shares of Apple Hospitality REIT during the 4th quarter valued at about $64,000. Finally, GAMMA Investing LLC grew its stake in Apple Hospitality REIT by 80.9% during the fourth quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 2,193 shares during the period. Institutional investors own 89.66% of the company’s stock.

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.