Apple Hospitality REIT (NYSE:APLE) Given New $12.00 Price Target at Wells Fargo & Company

Apple Hospitality REIT (NYSE:APLE) had its target price decreased by Wells Fargo & Company from $13.00 to $12.00 in a research report sent to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Several other equities research analysts also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 price target on shares of Apple Hospitality REIT in a research note on Tuesday, March 3rd. Finally, Barclays began coverage on shares of 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 equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.75.

Apple Hospitality REIT Price Performance

NYSE APLE opened at $11.78 on Tuesday. The stock has a market capitalization of $2.77 billion, a P/E ratio of 15.91 and a beta of 0.81. Apple Hospitality REIT has a 1 year low of $10.44 and a 1 year high of $13.49. The business’s fifty day moving average is $12.12 and its two-hundred day moving average is $11.98. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.40 and a current ratio of 0.40.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.16). The company had revenue of $326.44 million for the quarter, compared to analyst estimates of $322.60 million. Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. On average, 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 business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.08 dividend. This represents a c) annualized dividend and a yield of 8.2%. The ex-dividend date is Tuesday, March 31st. Apple Hospitality REIT’s dividend payout ratio is currently 129.73%.

Institutional Investors Weigh In On Apple Hospitality REIT

Institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC grew its stake in Apple Hospitality REIT by 7.9% in the third quarter. Private Advisor Group LLC now owns 13,883 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 1,022 shares in the last quarter. MML Investors Services LLC increased its position in Apple Hospitality REIT by 1.4% in the 2nd quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 1,100 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Apple Hospitality REIT by 9.3% during the 4th quarter. Captrust Financial Advisors now owns 13,519 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 1,149 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Apple Hospitality REIT by 16.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,316 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 1,160 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Apple Hospitality REIT by 22.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,440 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 1,202 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

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.