Apple Hospitality REIT (NYSE:APLE) Sets New 12-Month High – Here’s Why

Apple Hospitality REIT, Inc. (NYSE:APLE)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $13.31 and last traded at $13.2350, with a volume of 658234 shares traded. The stock had previously closed at $13.14.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on APLE shares. Wells Fargo & Company cut their price objective on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of Apple Hospitality REIT in a research report on Tuesday, March 3rd. LADENBURG THALM/SH SH began coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They set a “neutral” rating and a $13.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday. Finally, Barclays dropped their price target on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.64.

Apple Hospitality REIT Stock Up 0.3%

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.52. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 17.83 and a beta of 0.82. The business’s fifty day moving average is $12.15 and its two-hundred day moving average is $11.97.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.16). The business had revenue of $326.44 million during the quarter, compared to analyst estimates of $322.60 million. Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. Equities analysts forecast that Apple Hospitality REIT, Inc. will post 1.49 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 Friday, May 15th. Investors of record on Thursday, April 30th will be issued a $0.08 dividend. The ex-dividend date is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. Apple Hospitality REIT’s payout ratio is 129.73%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APLE. Norges Bank acquired a new position in shares of Apple Hospitality REIT in the fourth quarter valued at approximately $40,950,000. Centerbridge Partners L.P. lifted its stake in Apple Hospitality REIT by 88.2% in the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock worth $50,123,000 after acquiring an additional 1,982,000 shares during the last quarter. UBS Group AG lifted its stake in Apple Hospitality REIT by 60.8% in the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock worth $55,950,000 after acquiring an additional 1,786,018 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Apple Hospitality REIT in the fourth quarter worth approximately $13,361,000. Finally, Pacer Advisors Inc. purchased a new position in Apple Hospitality REIT in the fourth quarter worth approximately $11,498,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

About Apple Hospitality REIT

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.