Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $18.40 Average PT from Analysts

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been assigned a consensus rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $18.40.

APLE has been the topic of a number of analyst reports. StockNews.com downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. 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 report on Friday, December 22nd. Finally, Bank of America cut Apple Hospitality REIT from a “buy” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $18.00 in a research report on Monday, January 8th.

Hedge Funds Weigh In On Apple Hospitality REIT

Hedge funds have recently modified their holdings of the business. AlphaMark Advisors LLC increased its holdings in Apple Hospitality REIT by 13.4% in the first quarter. AlphaMark Advisors LLC now owns 18,331 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 2,168 shares during the period. Oliver Luxxe Assets LLC bought a new stake in shares of Apple Hospitality REIT in the 1st quarter valued at about $1,102,000. Sound Income Strategies LLC increased its stake in shares of Apple Hospitality REIT by 13.6% in the first quarter. Sound Income Strategies LLC now owns 617,922 shares of the real estate investment trust’s stock valued at $10,122,000 after buying an additional 74,066 shares during the period. Congress Asset Management Co. MA raised its position in shares of Apple Hospitality REIT by 0.9% during the first quarter. Congress Asset Management Co. MA now owns 393,772 shares of the real estate investment trust’s stock worth $6,450,000 after acquiring an additional 3,691 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its stake in shares of Apple Hospitality REIT by 150.8% in the fourth quarter. Quadrature Capital Ltd now owns 26,726 shares of the real estate investment trust’s stock worth $444,000 after acquiring an additional 16,071 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

Shares of NYSE:APLE opened at $14.93 on Friday. Apple Hospitality REIT has a 12-month low of $14.22 and a 12-month high of $17.90. The company’s 50 day moving average price is $16.16 and its two-hundred day moving average price is $16.25. The firm has a market cap of $3.62 billion, a PE ratio of 19.13 and a beta of 1.08. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.45.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.43%. The ex-dividend date was Wednesday, March 27th. Apple Hospitality REIT’s dividend payout ratio is currently 123.08%.

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.