Brokerages Set Apple Hospitality REIT, Inc. (NYSE:APLE) PT at $12.92

Apple Hospitality REIT, Inc. (NYSE:APLE) has been given an average rating of “Hold” by the seven ratings firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $12.9167.

Several research firms recently issued reports on APLE. Barclays began coverage on Apple Hospitality REIT in a report on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 price objective on the stock. Bank of America downgraded 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Friday, December 26th.

Apple Hospitality REIT Trading Down 1.5%

Shares of NYSE:APLE opened at $11.96 on Tuesday. The business’s 50 day moving average price is $12.05 and its 200-day moving average price is $12.05. Apple Hospitality REIT has a 1 year low of $10.44 and a 1 year high of $15.86. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 16.38 and a beta of 0.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.06 and a quick ratio of 0.06.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The business 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%. On average, equities research analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 17th. Stockholders 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 8.0%. Apple Hospitality REIT’s dividend payout ratio is presently 131.51%.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were purchased 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 of the company’s stock, valued at $8,460,197.04. The trade was a 0.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought 8,000 shares of company stock valued at $95,180 over the last quarter. Company insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC increased its position in Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,814 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Apple Hospitality REIT by 12,230.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 2,446 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Apple Hospitality REIT by 444.4% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 2,280 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Apple Hospitality REIT by 1,375.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,640 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in shares of Apple Hospitality REIT during the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds 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.