Apple Hospitality REIT (NYSE:APLE) Hits New 12-Month High – Here’s Why

Apple Hospitality REIT, Inc. (NYSE:APLE) shares hit a new 52-week high on Monday . The company traded as high as $17.08 and last traded at $16.9990, with a volume of 1323 shares trading hands. The stock had previously closed at $17.04.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. started coverage on shares of Apple Hospitality REIT in a report on Monday, June 1st. They issued a “neutral” rating and a $15.00 price objective for the company. BMO Capital Markets upped their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, June 12th. Barclays increased their target price on Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Finally, Cantor Fitzgerald raised their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.94.

Apple Hospitality REIT Stock Down 0.4%

The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50-day moving average price is $14.73 and its two-hundred day moving average price is $13.01. The stock has a market capitalization of $4.00 billion, a PE ratio of 23.24, a P/E/G ratio of 8.32 and a beta of 0.89.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The company had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. As a group, analysts expect that Apple Hospitality REIT, Inc. will post 1.58 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 131.51%.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the acquisition, the chairman owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

Hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Apple Hospitality REIT by 1,375.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,640 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Apple Hospitality REIT in the third quarter worth $36,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Apple Hospitality REIT in the fourth quarter worth $43,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Apple Hospitality REIT by 97.5% during the second quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,872 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

About Apple Hospitality REIT

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.