Brokerages Set Apple Hospitality REIT, Inc. (NYSE:APLE) Price Target at $16.80

Apple Hospitality REIT, Inc. (NYSE:APLE) has been assigned a consensus rating of “Moderate Buy” from the four brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $16.50.

APLE has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd.

Apple Hospitality REIT Price Performance

NYSE:APLE opened at $14.61 on Friday. The firm’s fifty day moving average is $15.67 and its two-hundred day moving average is $14.97. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 17.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $16.99.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The company had revenue of $378.84 million during the quarter, compared to analysts’ expectations of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same quarter in the previous year, the company earned $0.45 EPS. Research analysts expect that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.57%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quarry LP boosted its stake in Apple Hospitality REIT by 127.5% during the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,290 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 780 shares in the last quarter. Headlands Technologies LLC boosted its position in Apple Hospitality REIT by 4,406.5% during the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 5,420 shares during the last quarter. Palouse Capital Management Inc. purchased a new stake in Apple Hospitality REIT during the 2nd quarter valued at about $99,000. Finally, Covestor Ltd lifted its stake in Apple Hospitality REIT by 30.0% in the 3rd quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 1,831 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.