Apple Hospitality REIT (NYSE:APLE) Upgraded at StockNews.com

StockNews.com upgraded shares of Apple Hospitality REIT (NYSE:APLE) from a sell rating to a hold rating in a report issued on Friday.

Other equities analysts have also issued reports about the company. Oppenheimer restated an “outperform” rating and issued a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Wells Fargo & Company cut their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus target price of $16.50.

Apple Hospitality REIT Price Performance

NYSE APLE opened at $16.11 on Friday. The firm’s 50-day simple moving average is $15.16 and its two-hundred day simple moving average is $14.69. Apple Hospitality REIT has a 52 week low of $13.60 and a 52 week high of $17.90. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The company has a market cap of $3.87 billion, a PE ratio of 18.95 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data 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). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The firm had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. During the same quarter last year, the business posted $0.45 earnings per share. Research analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 5.96%. The ex-dividend date is Friday, November 29th. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in Apple Hospitality REIT by 1.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock worth $986,000 after acquiring an additional 1,050 shares during the period. Vanguard Group Inc. raised its holdings in 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 purchasing an additional 1,217,142 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Apple Hospitality REIT by 5.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 447,979 shares of the real estate investment trust’s stock valued at $7,337,000 after buying an additional 23,278 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Apple Hospitality REIT by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,398,673 shares of the real estate investment trust’s stock valued at $121,192,000 after buying an additional 253,082 shares in the last quarter. Finally, Walleye Trading LLC purchased a new stake in shares of Apple Hospitality REIT in the 1st quarter worth about $168,000. 89.66% of the stock is owned by hedge funds and other institutional investors.

About Apple Hospitality REIT

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.