Apple Hospitality REIT, Inc. (NYSE:APLE) Sees Large Decrease in Short Interest

Apple Hospitality REIT, Inc. (NYSE:APLE) saw a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 15,135,613 shares, a decrease of 12.1% from the December 31st total of 17,212,035 shares. Based on an average daily volume of 1,954,650 shares, the days-to-cover ratio is currently 7.7 days. Approximately 6.9% of the company’s shares are sold short. Approximately 6.9% of the company’s shares are sold short. Based on an average daily volume of 1,954,650 shares, the days-to-cover ratio is currently 7.7 days.

Apple Hospitality REIT Stock Up 1.2%

Shares of APLE opened at $11.78 on Tuesday. The firm has a market cap of $2.79 billion, a P/E ratio of 16.13 and a beta of 0.84. Apple Hospitality REIT has a 12 month low of $10.44 and a 12 month high of $15.86. The stock’s 50 day moving average is $12.05 and its two-hundred day moving average is $12.06. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.03.

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

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. Apple Hospitality REIT’s dividend payout ratio is presently 131.51%.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was acquired at an average cost of $11.91 per share, for a total transaction of $59,550.00. Following the completion of the transaction, the chairman owned 710,344 shares in the company, valued at $8,460,197.04. This trade represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 8,000 shares of company stock valued at $95,180 in the last 90 days. Company insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its position in shares of Apple Hospitality REIT by 285.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,350,787 shares of the real estate investment trust’s stock worth $15,764,000 after acquiring an additional 1,000,214 shares during the period. Caxton Associates LLP acquired a new position in Apple Hospitality REIT during the 2nd quarter worth $1,794,000. Strs Ohio increased its holdings in Apple Hospitality REIT by 18.1% during the 3rd quarter. Strs Ohio now owns 979,334 shares of the real estate investment trust’s stock worth $11,762,000 after purchasing an additional 150,000 shares during the period. Peregrine Capital Management LLC acquired a new stake in Apple Hospitality REIT in the 3rd quarter valued at about $5,129,000. Finally, Y Intercept Hong Kong Ltd boosted its stake in shares of Apple Hospitality REIT by 34.8% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 92,006 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 23,761 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on APLE. Bank of America lowered shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 target price on the stock. in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Finally, Barclays began coverage on Apple Hospitality REIT in a research note on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus target price of $12.92.

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.