Apple Hospitality REIT, Inc. (NYSE:APLE) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been given an average rating of “Hold” by the eight ratings firms that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $12.6429.

Several equities research analysts have recently weighed in on APLE shares. Wells Fargo & Company reduced their target price on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 target price on shares of Apple Hospitality REIT in a research note on Tuesday, March 3rd. LADENBURG THALM/SH SH started coverage on shares of Apple Hospitality REIT in a research note on Thursday, March 26th. They issued a “neutral” rating and a $13.00 target price on the stock. Finally, Barclays reduced their target price on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 7th.

Apple Hospitality REIT Trading Up 3.1%

Shares of APLE opened at $13.00 on Friday. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $13.27. The company has a market cap of $3.07 billion, a P/E ratio of 17.56 and a beta of 0.82. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $12.09 and its 200-day simple moving average is $11.94.

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 net margin of 12.42% and a return on equity of 5.50%. The firm had revenue of $326.44 million during the quarter, compared to analysts’ expectations of $322.60 million. As a group, analysts expect that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.08 dividend. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date of this dividend was Tuesday, March 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 129.73%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Apple Hospitality REIT by 0.5% in the 4th quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust’s stock worth $154,627,000 after buying an additional 68,794 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Apple Hospitality REIT by 1.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust’s stock worth $84,227,000 after buying an additional 127,327 shares during the period. UBS Group AG increased its stake in Apple Hospitality REIT by 60.8% in the 4th quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock worth $55,950,000 after buying an additional 1,786,018 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Apple Hospitality REIT by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust’s stock worth $55,871,000 after buying an additional 125,759 shares during the period. Finally, Centerbridge Partners L.P. increased its stake in Apple Hospitality REIT by 88.2% in the 4th quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock worth $50,123,000 after buying an additional 1,982,000 shares during the period. Hedge funds and other institutional investors 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.