Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $16.80 Consensus Target Price from Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $16.80.

A number of research firms have recently commented on APLE. Wells Fargo & Company dropped their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their price objective for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Finally, BMO Capital Markets began coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price on the stock.

Apple Hospitality REIT Stock Performance

NYSE APLE opened at $13.31 on Wednesday. The firm’s 50 day simple moving average is $14.79 and its 200 day simple moving average is $15.10. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 15.65 and a beta of 1.12. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a 1 year low of $13.01 and a 1 year high of $16.60.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The firm had revenue of $333.04 million for the quarter, compared to the consensus estimate of $330.11 million. As a group, research analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 7.22%. Apple Hospitality REIT’s dividend payout ratio is currently 109.09%.

Institutional Trading of Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Investment Advisors Inc. grew its holdings in shares of Apple Hospitality REIT by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 23,850 shares of the real estate investment trust’s stock valued at $366,000 after buying an additional 755 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Apple Hospitality REIT by 20.1% during the 4th quarter. Quadrant Capital Group LLC now owns 6,740 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 1,128 shares during the last quarter. Inspire Advisors LLC increased its holdings in Apple Hospitality REIT by 8.5% during the 4th quarter. Inspire Advisors LLC now owns 14,502 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 1,137 shares in the last quarter. Keybank National Association OH raised its stake in shares of Apple Hospitality REIT by 3.1% in the fourth quarter. Keybank National Association OH now owns 40,163 shares of the real estate investment trust’s stock worth $617,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. lifted its holdings in shares of Apple Hospitality REIT by 4.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 27,079 shares of the real estate investment trust’s stock valued at $416,000 after purchasing an additional 1,272 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

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.