Apple Hospitality REIT, Inc. (NYSE:APLE) Sees Significant Increase in Short Interest

Apple Hospitality REIT, Inc. (NYSE:APLE – Get Rating) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 3,220,000 shares, an increase of 10.3% from the February 13th total of 2,920,000 shares. Based on an average daily trading volume, of 1,420,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.5% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company raised their target price on Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, February 2nd. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.75.

Apple Hospitality REIT Stock Up 0.7 %

Shares of NYSE:APLE opened at $15.44 on Wednesday. The stock has a fifty day simple moving average of $16.82 and a two-hundred day simple moving average of $16.23. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 0.49 and a beta of 1.17. Apple Hospitality REIT has a 12-month low of $13.79 and a 12-month high of $18.69. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.04.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date is Monday, February 27th. Apple Hospitality REIT’s payout ratio is 150.00%.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction dated Monday, February 27th. The stock was bought at an average price of $16.90 per share, for a total transaction of $84,500.00. Following the purchase, the chairman now directly owns 503,093 shares in the company, valued at approximately $8,502,271.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Amalgamated Bank grew its holdings in Apple Hospitality REIT by 2.2% during the fourth quarter. Amalgamated Bank now owns 28,208 shares of the real estate investment trust’s stock valued at $445,000 after purchasing an additional 598 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Apple Hospitality REIT by 6.0% during the second quarter. O Shaughnessy Asset Management LLC now owns 11,609 shares of the real estate investment trust’s stock valued at $170,000 after purchasing an additional 661 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Apple Hospitality REIT by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 68,077 shares of the real estate investment trust’s stock valued at $957,000 after purchasing an additional 700 shares during the period. Baird Financial Group Inc. grew its holdings in Apple Hospitality REIT by 0.8% during the fourth quarter. Baird Financial Group Inc. now owns 92,924 shares of the real estate investment trust’s stock valued at $1,467,000 after purchasing an additional 739 shares during the period. Finally, Lido Advisors LLC grew its holdings in Apple Hospitality REIT by 1.5% during the first quarter. Lido Advisors LLC now owns 52,034 shares of the real estate investment trust’s stock valued at $935,000 after purchasing an additional 786 shares during the period. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Apple Hospitality REIT Company Profile

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Apple Hospitality REIT, Inc is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. It owns hotels located in urban, high-end suburban, and developing markets throughout states, which operates under Marriott, Hilton, or Hyatt brands.