Apple Hospitality REIT (NYSE:APLE) Upgraded at Zacks Research

Zacks Research upgraded shares of Apple Hospitality REIT (NYSE:APLE) from a hold rating to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

APLE has been the subject of several other reports. LADENBURG THALM/SH SH lifted their price objective on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Cantor Fitzgerald increased their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. boosted their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Apple Hospitality REIT currently has an average rating of “Hold” and an average target price of $16.00.

Apple Hospitality REIT Stock Up 1.0%

Shares of APLE stock opened at $16.78 on Wednesday. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $17.13. The firm has a market capitalization of $3.96 billion, a PE ratio of 22.98, a P/E/G ratio of 3.25 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50-day simple moving average is $16.00 and its 200-day simple moving average is $13.65.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. Equities analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 31st will be paid a dividend of $0.08 per share. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, July 31st. Apple Hospitality REIT’s dividend payout ratio is presently 131.51%.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the transaction, the chairman directly owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.90% of the stock is owned by company insiders.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors and hedge funds have recently made changes to their positions in APLE. Norges Bank acquired a new position in shares of Apple Hospitality REIT during the 4th quarter worth approximately $40,950,000. Centerbridge Partners L.P. grew 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 valued at $50,123,000 after acquiring an additional 1,982,000 shares during the period. UBS Group AG grew 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 valued at $55,950,000 after acquiring an additional 1,786,018 shares during the period. Rush Island Management LP purchased a new stake in Apple Hospitality REIT in the 1st quarter worth $17,143,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Apple Hospitality REIT in the 4th quarter worth $13,361,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

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.