Apple Hospitality REIT (NYSE:APLE) Reaches New 1-Year High – Still a Buy?

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week high on Tuesday . The company traded as high as $14.61 and last traded at $14.61, with a volume of 54051 shares. The stock had previously closed at $14.47.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APLE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Wednesday, April 22nd. Barclays dropped their price objective on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Wells Fargo & Company lowered their target price on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 24th. LADENBURG THALM/SH SH started coverage on Apple Hospitality REIT in a research note on Thursday, March 26th. They set a “neutral” rating and a $13.00 target price on the stock. Finally, Cantor Fitzgerald boosted their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.93.

Apple Hospitality REIT Stock Up 1.5%

The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 20.11 and a beta of 0.88. The firm’s fifty day moving average is $12.81 and its two-hundred day moving average is $12.31. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. On average, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.55 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 6.5%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 131.51%.

Insider Activity

In other news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the transaction, the chairman owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Apple Hospitality REIT

Several hedge funds have recently modified their holdings of APLE. Norges Bank acquired a new position in shares of Apple Hospitality REIT during the 4th quarter valued at $40,950,000. Centerbridge Partners L.P. increased its position in shares of Apple Hospitality REIT by 88.2% during the 4th quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock valued at $50,123,000 after purchasing an additional 1,982,000 shares during the period. UBS Group AG increased its position in shares of Apple Hospitality REIT by 60.8% during the 4th quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock valued at $55,950,000 after purchasing an additional 1,786,018 shares during the period. Rush Island Management LP acquired a new position in shares of Apple Hospitality REIT during the 1st quarter valued at $17,143,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Apple Hospitality REIT during the 4th quarter valued at $13,361,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.