Apple Hospitality REIT, Inc. (NYSE:APLE) Given Average Rating of “Hold” by Analysts

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $12.9167.

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Bank of America cut shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 target price for the company. in a research note on Tuesday, November 4th. Finally, Barclays assumed coverage on Apple Hospitality REIT in a research report on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price target on the stock.

Insider Activity

In related news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average price of $11.91 per share, for a total transaction of $59,550.00. Following the transaction, the chairman directly owned 710,344 shares in the company, valued at approximately $8,460,197.04. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 7.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Apple Hospitality REIT during the fourth quarter valued at approximately $40,950,000. Centerbridge Partners L.P. lifted its holdings in Apple Hospitality REIT by 88.2% during 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 in the last quarter. UBS Group AG lifted its holdings in Apple Hospitality REIT by 60.8% during 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Apple Hospitality REIT in the 4th quarter valued at $13,361,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Apple Hospitality REIT by 285.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,350,787 shares of the real estate investment trust’s stock valued at $15,764,000 after buying an additional 1,000,214 shares during the period. 89.66% of the stock is owned by institutional investors.

Apple Hospitality REIT Stock Performance

Shares of NYSE:APLE opened at $12.26 on Friday. The business’s fifty day moving average price is $12.17 and its two-hundred day moving average price is $12.08. Apple Hospitality REIT has a fifty-two week low of $10.44 and a fifty-two week high of $14.96. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 16.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.40 and a quick ratio of 0.06.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $326.44 million for the quarter, compared to the consensus estimate of $322.60 million. As a group, analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.08 per share. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date is Friday, February 27th. Apple Hospitality REIT’s dividend payout ratio is presently 129.73%.

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.