Apple Hospitality REIT (NYSE:APLE) Research Coverage Started at Barclays

Barclays started coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a report issued on Tuesday, MarketBeat Ratings reports. The firm issued an overweight rating and a $14.00 price target on the real estate investment trust’s stock.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Robert W. Baird lowered their target price on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research note on Friday, October 3rd. Bank of America cut shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price objective on the stock. in a research note on Tuesday, November 4th. Finally, Cantor Fitzgerald assumed coverage on shares of Apple Hospitality REIT in a report on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.92.

Apple Hospitality REIT Trading Up 2.8%

Apple Hospitality REIT stock opened at $12.43 on Tuesday. The business’s fifty day simple moving average is $11.84 and its two-hundred day simple moving average is $12.04. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 17.03 and a beta of 0.85. Apple Hospitality REIT has a 12 month low of $10.44 and a 12 month high of $16.01.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $373.88 million for the quarter, compared to the consensus estimate of $371.94 million. Apple Hospitality REIT had a net margin of 12.37% and a return on equity of 5.46%. As a group, equities analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Wednesday, December 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 131.51%.

Insider Activity

In related news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction dated Thursday, December 11th. The shares were purchased at an average price of $11.91 per share, for a total transaction of $59,550.00. Following the completion of the transaction, the chairman directly owned 710,344 shares in the company, valued at approximately $8,460,197.04. This represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 8,000 shares of company stock worth $95,180 in the last quarter. Company insiders own 7.10% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

A number of large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in Apple Hospitality REIT by 7.0% during the third quarter. Dimensional Fund Advisors LP now owns 3,306,184 shares of the real estate investment trust’s stock valued at $39,707,000 after purchasing an additional 215,355 shares during the period. UBS Group AG boosted its stake in shares of Apple Hospitality REIT by 94.3% during the 3rd quarter. UBS Group AG now owns 2,935,463 shares of the real estate investment trust’s stock worth $35,255,000 after purchasing an additional 1,424,287 shares during the period. LSV Asset Management boosted its position in shares of Apple Hospitality REIT by 8.8% during the second quarter. LSV Asset Management now owns 2,741,253 shares of the real estate investment trust’s stock valued at $31,990,000 after buying an additional 221,976 shares during the period. Systematic Financial Management LP boosted its position in shares of Apple Hospitality REIT by 3.5% during the second quarter. Systematic Financial Management LP now owns 2,255,552 shares of the real estate investment trust’s stock valued at $26,322,000 after buying an additional 75,638 shares during the period. Finally, Centerbridge Partners L.P. boosted its holdings in Apple Hospitality REIT by 18.4% during the 3rd quarter. Centerbridge Partners L.P. now owns 2,247,785 shares of the real estate investment trust’s stock valued at $26,996,000 after acquiring an additional 350,000 shares during the period. 89.66% of the stock is currently owned by institutional investors.

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.