Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $14.19 and last traded at $13.7850, with a volume of 3033944 shares traded. The stock had previously closed at $14.13.
Wall Street Analyst Weigh In
A number of analysts recently commented on APLE shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of Apple Hospitality REIT in a report on Tuesday, March 3rd. Barclays dropped their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. LADENBURG THALM/SH SH started coverage on Apple Hospitality REIT in a report on Thursday, March 26th. They set a “neutral” rating and a $13.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 24th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Apple Hospitality REIT currently has a consensus rating of “Hold” and a consensus target price of $12.64.
Read Our Latest Stock Analysis on APLE
Apple Hospitality REIT Stock Performance
Apple Hospitality REIT (NYSE:APLE – Get Free Report) last issued its 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. The firm had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. On average, equities analysts forecast that Apple Hospitality REIT, Inc. will post 1.51 EPS for the current year.
Apple Hospitality REIT Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be given a $0.08 dividend. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 7.0%. Apple Hospitality REIT’s payout ratio is 131.51%.
Hedge Funds Weigh In On Apple Hospitality REIT
Hedge funds have recently made changes to their positions in the stock. Centerbridge Partners L.P. grew its position in shares of Apple Hospitality REIT by 18.4% in the third quarter. Centerbridge Partners L.P. now owns 2,247,785 shares of the real estate investment trust’s stock valued at $26,996,000 after purchasing an additional 350,000 shares in the last quarter. Strs Ohio grew its position in shares of Apple Hospitality REIT by 18.1% in the third quarter. Strs Ohio now owns 979,334 shares of the real estate investment trust’s stock valued at $11,762,000 after purchasing an additional 150,000 shares in the last quarter. Waterfall Asset Management LLC grew its position in shares of Apple Hospitality REIT by 82.5% in the third quarter. Waterfall Asset Management LLC now owns 730,000 shares of the real estate investment trust’s stock valued at $8,767,000 after purchasing an additional 330,000 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Apple Hospitality REIT by 10.8% in the third quarter. Public Sector Pension Investment Board now owns 972,074 shares of the real estate investment trust’s stock valued at $11,675,000 after purchasing an additional 94,630 shares in the last quarter. Finally, MQS Management LLC purchased a new position in shares of Apple Hospitality REIT in the third quarter valued at $1,013,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.
Apple Hospitality REIT Company Profile
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.
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