Apple Hospitality REIT (NYSE:APLE) Price Target Raised to $16.00

Apple Hospitality REIT (NYSE:APLE) had its price objective increased by JPMorgan Chase & Co. from $15.00 to $16.00 in a report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the real estate investment trust’s stock.

A number of other analysts have also recently commented on APLE. Barclays restated an “equal weight” rating and issued a $17.00 price target (up from $16.00) on shares of Apple Hospitality REIT in a research report on Tuesday. LADENBURG THALM/SH SH lifted their price objective on Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Cantor Fitzgerald increased their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Finally, Bank of America increased their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.00.

Apple Hospitality REIT Trading Down 2.0%

Shares of APLE stock opened at $16.62 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 3.32 and a beta of 0.87. Apple Hospitality REIT has a 1 year low of $10.85 and a 1 year high of $17.13. The firm has a fifty day moving average price of $15.94 and a 200-day moving average price of $13.63.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $337.74 million for the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. As a group, equities analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 31st will be issued a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, July 31st. Apple Hospitality REIT’s payout ratio is 131.51%.

Insider Activity at Apple Hospitality REIT

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

Institutional Trading of Apple Hospitality REIT

A number of large investors have recently added to or reduced their stakes in APLE. NewEdge Advisors LLC raised its holdings in shares of 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 worth $31,000 after acquiring an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of 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 valued at $33,000 after purchasing an additional 2,640 shares in the last quarter. Danske Bank A S purchased a new position in shares of Apple Hospitality REIT in the third quarter valued at $36,000. Godfrey Financial Associates Inc. bought a new stake in Apple Hospitality REIT in the fourth quarter worth $43,000. Finally, Inspire Investing LLC increased its position in Apple Hospitality REIT by 2,965.1% in the first 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. Institutional investors own 89.66% of the company’s stock.

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.