Analysts Set Apple Hospitality REIT, Inc. (NYSE:APLE) Target Price at $16.80

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have earned a consensus rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $16.80.

Several equities analysts have weighed in on APLE shares. Oppenheimer restated an “outperform” rating and set a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a report 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 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 Friday, November 22nd. Finally, BMO Capital Markets started coverage on Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 price target on the stock.

Institutional Investors Weigh In On Apple Hospitality REIT

Hedge funds have recently modified their holdings of the business. Quarry LP raised its stake in Apple Hospitality REIT by 127.5% during the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,290 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Apple Hospitality REIT by 40.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 780 shares during the period. Headlands Technologies LLC raised its position in shares of Apple Hospitality REIT by 4,406.5% during the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 5,420 shares during the last quarter. Palouse Capital Management Inc. bought a new stake in shares of Apple Hospitality REIT in the second quarter valued at about $99,000. Finally, Covestor Ltd grew its position in Apple Hospitality REIT by 30.0% during the third quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 1,831 shares in the last quarter. 89.66% of the stock is owned by institutional investors.

Apple Hospitality REIT Trading Up 0.1 %

NYSE:APLE opened at $15.16 on Friday. The company has a market capitalization of $3.64 billion, a P/E ratio of 17.84 and a beta of 1.13. The stock’s 50 day moving average price is $15.68 and its 200 day moving average price is $14.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT has a 52 week low of $13.60 and a 52 week high of $17.08.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. During the same quarter last year, the company earned $0.45 EPS. On average, research analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.33%. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

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.