Apple Hospitality REIT, Inc. (NYSE:APLE) Stock Has Consensus Price Target of $16.94

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $17.06.

Several research analysts have recently commented on APLE shares. Zacks Research cut shares of Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. JPMorgan Chase & Co. lifted their price target 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, July 21st. Bank of America boosted their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company boosted their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Finally, Barclays increased their price target on Apple Hospitality REIT from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday.

Apple Hospitality REIT Trading Up 2.7%

APLE stock opened at $16.85 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73. The company’s 50-day simple moving average is $16.03 and its 200 day simple moving average is $15.32. Apple Hospitality REIT has a 52 week low of $10.85 and a 52 week high of $17.28. The company has a market capitalization of $3.98 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 3.21 and a beta of 0.92.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $402.55 million for the quarter, compared to analyst estimates of $391.88 million. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. As a group, sell-side analysts anticipate that Apple Hospitality REIT will post 1.60 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.08 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 5.7%. Apple Hospitality REIT’s payout ratio is presently 129.73%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Compass Financial Management LLC acquired a new stake in shares of Apple Hospitality REIT in the 2nd quarter valued at approximately $56,000. Nykredit A S acquired a new position in Apple Hospitality REIT during the 2nd quarter worth approximately $62,000. Allworth Financial LP increased its position in Apple Hospitality REIT by 69.7% during the 2nd quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 1,569 shares in the last quarter. Inspire Investing LLC increased its position in Apple Hospitality REIT by 2,965.1% during the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 3,736 shares in the last quarter. Finally, Palouse Capital Management Inc. lifted its stake in Apple Hospitality REIT by 21.1% in the 2nd quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 750 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a self-administered real estate investment trust focused on owning and operating upscale, select-service hotels. The company’s properties primarily operate under well-known lodging brands affiliated with Marriott International, Hilton Worldwide and Hyatt Hotels Corporation.

Apple Hospitality’s portfolio includes hotels serving business and leisure travelers in a range of urban, suburban and destination markets. Its properties are located across the United States, with a focus on geographically diverse markets and hotels that offer amenities such as guest rooms, meeting spaces, fitness facilities, swimming pools and limited food-and-beverage services.

The company was formed in 2007 and became publicly traded in 2015.