Apple Hospitality REIT’s (APLE) “Outperform” Rating Reaffirmed at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Apple Hospitality REIT (NYSE:APLE) in a report released on Friday,Benzinga reports. Oppenheimer currently has a $18.00 price target on the real estate investment trust’s stock, up from their prior price target of $17.00.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.50.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE opened at $16.00 on Friday. The business has a 50-day simple moving average of $14.88 and a two-hundred day simple moving average of $14.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.75 and a current ratio of 0.04. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 18.82 and a beta of 1.11. Apple Hospitality REIT has a fifty-two week low of $13.60 and a fifty-two week high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share 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 company had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. During the same period in the previous year, the firm earned $0.45 earnings per share. On average, analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.00%. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

Institutional Trading of Apple Hospitality REIT

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Apple Hospitality REIT by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock worth $582,400,000 after buying an additional 1,217,142 shares during the period. Victory Capital Management Inc. raised its stake in Apple Hospitality REIT by 17.2% during the 2nd quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock worth $87,518,000 after acquiring an additional 881,217 shares during the period. Edgestream Partners L.P. raised its stake in Apple Hospitality REIT by 400.8% during the 2nd quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust’s stock worth $9,286,000 after acquiring an additional 511,100 shares during the period. Westwood Holdings Group Inc. lifted its holdings in Apple Hospitality REIT by 911.1% during the second quarter. Westwood Holdings Group Inc. now owns 388,414 shares of the real estate investment trust’s stock valued at $5,648,000 after purchasing an additional 350,000 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its position in shares of Apple Hospitality REIT by 3,768.4% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,156 shares of the real estate investment trust’s stock worth $5,062,000 after purchasing an additional 339,156 shares during the period. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

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.