StockNews.com Downgrades Apple Hospitality REIT (NYSE:APLE) to Sell

StockNews.com cut shares of Apple Hospitality REIT (NYSE:APLE) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Other analysts have also issued research reports about the company. Wells Fargo & Company reduced their target price 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. Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.50.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $15.50 on Thursday. The stock’s 50 day simple moving average is $15.01 and its two-hundred day simple moving average is $14.66. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 18.24 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The company had revenue of $378.84 million during the quarter, compared to analysts’ expectations of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same quarter last year, the firm posted $0.45 EPS. As a group, equities analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date was Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EdgeRock Capital LLC bought a new stake in shares of Apple Hospitality REIT in the 2nd quarter valued at about $26,000. Quarry LP raised its stake in Apple Hospitality REIT by 127.5% in the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,290 shares in the last quarter. GAMMA Investing LLC raised its stake in Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 780 shares in the last quarter. Covestor Ltd lifted its holdings in Apple Hospitality REIT by 115.6% during the first quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 2,313 shares during the period. Finally, Headlands Technologies LLC boosted its position in Apple Hospitality REIT by 4,406.5% during the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 5,420 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

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.