Apple Hospitality REIT (NYSE:APLE) Receives “Hold (C-)” Rating from Weiss Ratings

Weiss Ratings reaffirmed their hold (c-) rating on shares of Apple Hospitality REIT (NYSE:APLE) in a research report sent to investors on Thursday morning,Weiss Ratings reports.

Other research analysts have also issued research reports about the company. Robert W. Baird cut their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Cantor Fitzgerald started coverage on Apple Hospitality REIT in a research report on Wednesday, October 1st. They set an “overweight” rating and a $14.00 price target on the stock. Finally, Wells Fargo & Company raised Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.50.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $11.39 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 0.78. Apple Hospitality REIT has a fifty-two week low of $10.44 and a fifty-two week high of $16.50. The firm has a market capitalization of $2.70 billion, a PE ratio of 15.19 and a beta of 1.02. The stock’s 50-day simple moving average is $12.18 and its 200-day simple moving average is $12.00.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%.The business had revenue of $384.37 million for the quarter, compared to analyst estimates of $381.37 million. As a group, equities research analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 8.4%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 128.00%.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $12.29 per share, with a total value of $61,450.00. Following the completion of the acquisition, the chairman directly owned 705,344 shares in the company, valued at $8,668,677.76. This trade represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 7.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

Hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its holdings 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 worth $31,000 after purchasing an additional 1,814 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Apple Hospitality REIT by 12,230.0% during the second quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 2,446 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Apple Hospitality REIT by 444.4% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,280 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Apple Hospitality REIT by 1,375.0% during the second 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 during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Apple Hospitality REIT by 97.5% during the second quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 1,872 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

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.