Apple Hospitality REIT (NYSE:APLE) Now Covered by Analysts at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH started coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research report released on Thursday, MarketBeat reports. The brokerage issued a neutral rating and a $13.00 price target on the real estate investment trust’s stock.

Several other research firms also recently weighed in on APLE. Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price target on shares of Apple Hospitality REIT in a research note on Tuesday, March 3rd. Barclays started coverage on shares of Apple Hospitality REIT in a report on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price objective for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Friday, December 26th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Apple Hospitality REIT has a consensus rating of “Hold” and an average price target of $12.79.

Apple Hospitality REIT Trading Down 0.6%

Shares of NYSE:APLE opened at $11.90 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.52. Apple Hospitality REIT has a 12-month low of $10.44 and a 12-month high of $13.27. The stock has a 50 day moving average of $12.10 and a 200 day moving average of $11.98. The company has a market cap of $2.80 billion, a PE ratio of 16.07 and a beta of 0.81.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results 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 return on equity of 5.50% and a net margin of 12.42%.The business had revenue of $326.44 million during the quarter, compared to analysts’ expectations of $322.60 million. As a group, equities research analysts expect that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.08 per share. This represents a c) annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Tuesday, March 31st. Apple Hospitality REIT’s payout ratio is 129.73%.

Hedge Funds Weigh In On Apple Hospitality REIT

Several hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its stake in shares of 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 valued at $31,000 after purchasing an additional 1,814 shares during the period. EverSource Wealth Advisors LLC grew its stake in Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,640 shares in the last quarter. Cloud Capital Management LLC purchased a new position in shares of Apple Hospitality REIT during the third quarter worth approximately $34,000. Danske Bank A S purchased a new position in shares of Apple Hospitality REIT during the third quarter worth approximately $36,000. Finally, Godfrey Financial Associates Inc. bought a new stake in shares of Apple Hospitality REIT during the fourth quarter valued at approximately $43,000. Institutional investors 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.