Apple Hospitality REIT (NYSE:APLE) Reaches New 52-Week High – Still a Buy?

Apple Hospitality REIT, Inc. (NYSE:APLE)’s share price reached a new 52-week high on Wednesday. The company traded as high as $18.73 and last traded at $18.5630, with a volume of 861,717 shares changing hands. The stock had previously closed at $18.62.

Analysts Set New Price Targets

APLE has been the subject of several research analyst reports. Bank of America lifted their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. raised their target price on shares of Apple Hospitality REIT from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Apple Hospitality REIT in a research report on Friday, August 21st. Zacks Research lowered Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Finally, Wells Fargo & Company increased their price objective on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Apple Hospitality REIT has a consensus rating of “Hold” and an average target price of $17.31.

Apple Hospitality REIT Price Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73. The company’s 50-day simple moving average is $16.47 and its 200-day simple moving average is $14.62. The company has a market capitalization of $4.42 billion, a PE ratio of 25.35, a P/E/G ratio of 2.11 and a beta of 0.92.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $402.55 million during the quarter, compared to the consensus estimate of $391.88 million. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. As a group, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.63 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Friday, October 30th. Apple Hospitality REIT’s payout ratio is currently 129.73%.

Institutional Trading of Apple Hospitality REIT

Institutional investors and hedge funds have recently bought and sold shares of the company. Compass Financial Management LLC bought a new stake in Apple Hospitality REIT in the second quarter valued at $56,000. Nykredit A S purchased a new stake in shares of Apple Hospitality REIT in the 2nd quarter valued at approximately $62,000. Allworth Financial LP increased its holdings in shares of Apple Hospitality REIT by 69.7% in the 2nd quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 1,569 shares during the period. Inspire Investing LLC increased its position in Apple Hospitality REIT by 2,965.1% in the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 3,736 shares during the last quarter. Finally, Palouse Capital Management Inc. lifted its stake in Apple Hospitality REIT by 21.1% in the second quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock valued at $72,000 after acquiring an additional 750 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a self-administered and self-managed real estate investment trust that owns a portfolio of upscale, select-service hotels across the United States. The company’s properties primarily operate under well-known hospitality brands affiliated with Marriott International, Hilton Worldwide Holdings and Hyatt Hotels Corporation.

Apple Hospitality’s hotels provide lodging and related guest services, including accommodations, meeting facilities, food and beverage offerings, and other amenities.