Apple Hospitality REIT, Inc. (NYSE:APLE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLEGet Free Report) have received a consensus rating of “Hold” from the nine analysts that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $13.9375.

A number of brokerages have weighed in on APLE. LADENBURG THALM/SH SH started coverage on Apple Hospitality REIT in a research note on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price objective for the company. Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Wells Fargo & Company increased their price objective on Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. assumed coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They issued a “neutral” rating and a $15.00 price objective for the company. Finally, Barclays upped their target price on Apple Hospitality REIT from $13.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, June 1st.

Read Our Latest Analysis on APLE

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the purchase, the chairman directly owned 747,191 shares in the company, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of APLE. NewEdge Advisors LLC lifted its holdings in shares of Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,814 shares during the period. EverSource Wealth Advisors LLC lifted its position in Apple Hospitality REIT by 1,375.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,640 shares in the last quarter. Danske Bank A S acquired a new position in Apple Hospitality REIT during the 3rd quarter worth approximately $36,000. Godfrey Financial Associates Inc. acquired a new position in Apple Hospitality REIT during the 4th quarter worth approximately $43,000. Finally, Inspire Investing LLC lifted its position in Apple Hospitality REIT by 2,965.1% during the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 3,736 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Price Performance

APLE stock opened at $15.61 on Monday. The business has a 50 day moving average price of $13.40 and a 200 day moving average price of $12.52. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 21.39 and a beta of 0.89. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $15.80. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54.

Apple Hospitality REIT (NYSE:APLEGet Free Report) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The firm had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. Equities research analysts anticipate that Apple Hospitality REIT will post 1.58 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 131.51%.

Apple Hospitality REIT Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Apple Hospitality REIT (NYSE:APLE)

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