Apple Hospitality REIT, Inc. (NYSE:APLE) Stock Has Average Price Target of $16.94

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $17.06.

A number of equities analysts have issued reports on APLE shares. Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. LADENBURG THALM/SH SH upped their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. lifted their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Bank of America upped their price objective on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, Compass Point raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their price target for the stock from $17.50 to $18.50 in a report on Friday, August 7th.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE opened at $16.52 on Friday. The firm has a market cap of $3.90 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 3.18 and a beta of 0.92. Apple Hospitality REIT has a 52 week low of $10.85 and a 52 week high of $17.28. The firm’s fifty day moving average is $16.02 and its 200-day moving average is $15.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $402.55 million during the quarter, compared to analysts’ expectations of $391.88 million. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. Sell-side analysts predict that Apple Hospitality REIT will post 1.60 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 129.73%.

Institutional Trading of Apple Hospitality REIT

Hedge funds and other institutional investors have recently bought and sold shares of the company. Centerbridge Partners L.P. increased its holdings in shares of Apple Hospitality REIT by 88.2% in the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock worth $50,123,000 after buying an additional 1,982,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in Apple Hospitality REIT by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,254,332 shares of the real estate investment trust’s stock worth $37,458,000 after acquiring an additional 56,555 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Apple Hospitality REIT in the 2nd quarter worth approximately $26,774,000. Bank of America Corp DE raised its stake in Apple Hospitality REIT by 6.0% during the first quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust’s stock valued at $23,585,000 after buying an additional 115,575 shares during the last quarter. Finally, Rush Island Management LP purchased a new position in Apple Hospitality REIT during the first quarter valued at $17,143,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a self-administered real estate investment trust focused on owning and operating upscale, select-service hotels. The company’s properties primarily operate under well-known lodging brands affiliated with Marriott International, Hilton Worldwide and Hyatt Hotels Corporation.

Apple Hospitality’s portfolio includes hotels serving business and leisure travelers in a range of urban, suburban and destination markets. Its properties are located across the United States, with a focus on geographically diverse markets and hotels that offer amenities such as guest rooms, meeting spaces, fitness facilities, swimming pools and limited food-and-beverage services.

The company was formed in 2007 and became publicly traded in 2015.