Brokerages Set Apple Hospitality REIT, Inc. (NYSE:APLE) Price Target at $16.60

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $16.60.

APLE has been the subject of a number of analyst reports. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. 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 report on Monday, January 27th. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Finally, BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They set an “outperform” rating and a $18.00 target price for the company.

Apple Hospitality REIT Trading Down 0.6 %

NYSE:APLE opened at $15.43 on Tuesday. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $16.99. The business has a fifty day moving average price of $15.53 and a 200-day moving average price of $15.06. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 18.15 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data 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). The company had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period last year, the business earned $0.45 EPS. Sell-side analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date of this dividend is Friday, January 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Institutional Investors Weigh In On Apple Hospitality REIT

Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in shares of Apple Hospitality REIT by 11.9% in the 3rd quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock worth $100,059,000 after purchasing an additional 718,844 shares during the period. Geode Capital Management LLC boosted its holdings in Apple Hospitality REIT by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock valued at $85,571,000 after acquiring an additional 62,149 shares during the period. JPMorgan Chase & Co. grew its position in Apple Hospitality REIT by 0.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,243,575 shares of the real estate investment trust’s stock valued at $77,867,000 after acquiring an additional 18,858 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Apple Hospitality REIT by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock worth $66,187,000 after purchasing an additional 182,917 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Apple Hospitality REIT by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after purchasing an additional 154,159 shares during the last quarter. Hedge funds and other 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.