Apple Hospitality REIT (NYSE:APLE) Stock Crosses Above 50 Day Moving Average – What’s Next?

Apple Hospitality REIT, Inc. (NYSE:APLE) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $15.70 and traded as high as $16.92. Apple Hospitality REIT shares last traded at $16.8370, with a volume of 2,076,001 shares traded.

Wall Street Analysts Forecast Growth

APLE has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH boosted their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Cantor Fitzgerald raised their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. BMO Capital Markets lifted their price target on shares of 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 upped their price objective on Apple Hospitality REIT from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Finally, JPMorgan Chase & Co. initiated coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They issued a “neutral” rating and a $15.00 target price for the company. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Apple Hospitality REIT has a consensus rating of “Hold” and an average price target of $14.94.

Apple Hospitality REIT Price Performance

The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock has a market cap of $3.97 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 8.22 and a beta of 0.87. The business’s 50-day simple moving average is $15.70 and its two-hundred day simple moving average is $13.48.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results 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 firm 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%. Sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.58 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Tuesday, June 30th. Apple Hospitality REIT’s payout ratio is currently 131.51%.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the transaction, the chairman directly owned 747,191 shares in the company, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Several hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Apple Hospitality REIT by 0.5% during the 4th quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust’s stock worth $154,627,000 after purchasing an additional 68,794 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Apple Hospitality REIT by 1.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust’s stock valued at $84,227,000 after buying an additional 127,327 shares during the period. UBS Group AG increased its position in shares of Apple Hospitality REIT by 60.8% during the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock valued at $55,950,000 after buying an additional 1,786,018 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Apple Hospitality REIT by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust’s stock worth $55,871,000 after buying an additional 125,759 shares in the last quarter. Finally, Centerbridge Partners L.P. lifted 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 in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

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.