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

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have earned a consensus recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.80.

A number of analysts have commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They issued an “outperform” rating and a $18.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on shares of 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.

Institutional Trading of Apple Hospitality REIT

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Apple Hospitality REIT by 40.4% during the third 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 last quarter. Amalgamated Bank grew its holdings in Apple Hospitality REIT by 1.2% during the 2nd quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock worth $996,000 after acquiring an additional 813 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in Apple Hospitality REIT by 6.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust’s stock valued at $241,000 after acquiring an additional 921 shares in the last quarter. Ellis Investment Partners LLC raised its stake in shares of Apple Hospitality REIT by 4.6% in the third quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust’s stock worth $318,000 after acquiring an additional 948 shares during the last quarter. Finally, Inspire Advisors LLC lifted its position in shares of Apple Hospitality REIT by 8.2% during the third quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 1,008 shares in the last quarter. 89.66% of the stock is owned by institutional investors.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE opened at $16.05 on Monday. 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 business has a 50 day moving average price of $15.53 and a 200 day moving average price of $14.84. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 18.88 and a beta of 1.13. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. During the same period in the prior year, the company 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 company also recently declared 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 5.98%. The ex-dividend date is Friday, November 29th. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

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.