Apple Hospitality REIT (NYSE:APLE) Price Target Cut to $13.00 by Analysts at Barclays

Apple Hospitality REIT (NYSE:APLE) had its target price reduced by Barclays from $14.00 to $13.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the stock. LADENBURG THALM/SH SH started coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They set a “neutral” rating and a $13.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of Apple Hospitality REIT in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Finally, Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 24th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.64.

Apple Hospitality REIT Stock Up 0.5%

Shares of Apple Hospitality REIT stock opened at $11.65 on Tuesday. The firm’s 50 day moving average price is $11.98 and its 200-day moving average price is $11.92. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.52. Apple Hospitality REIT has a 52-week low of $10.44 and a 52-week high of $13.27. The company has a market cap of $2.74 billion, a P/E ratio of 15.74 and a beta of 0.82.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.16). Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%.The business had revenue of $326.44 million for the quarter, compared to analysts’ expectations of $322.60 million. On average, sell-side analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 129.73%.

Institutional Trading of Apple Hospitality REIT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its holdings 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 buying an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Apple Hospitality REIT by 1,375.0% during the second 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 in the last quarter. Cloud Capital Management LLC purchased a new stake in Apple Hospitality REIT during the third quarter worth $34,000. Danske Bank A S purchased a new stake in Apple Hospitality REIT during the third quarter worth $36,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in Apple Hospitality REIT during the fourth quarter worth $43,000. 89.66% of the stock is owned by institutional investors and hedge funds.

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.