Apple Hospitality REIT, Inc. (NYSE:APLE) Stock Has Average Price Target of $17.31

Apple Hospitality REIT, Inc. (NYSE:APLE) has earned a consensus recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $17.31.

APLE has been the topic of a number of recent research reports. Zacks Research cut Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Wells Fargo & Company boosted their price target on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Apple Hospitality REIT in a report on Friday, August 21st. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Compass Point upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $17.50 to $18.50 in a report on Friday, August 7th.

Apple Hospitality REIT Price Performance

APLE stock opened at $18.83 on Thursday. The stock has a market capitalization of $4.45 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. The company’s 50-day moving average is $16.64 and its 200-day moving average is $14.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73. Apple Hospitality REIT has a 1 year low of $11.03 and a 1 year high of $18.98.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 5.56% and a net margin of 12.17%. Equities research analysts expect that Apple Hospitality REIT will post 1.63 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.96 annualized dividend and a yield of 5.1%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 129.73%.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of hedge funds have recently added to or reduced their stakes in the stock. BOKF NA raised its holdings in shares of Apple Hospitality REIT by 3.6% in the third quarter. BOKF NA now owns 20,073 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 690 shares during the last quarter. Palouse Capital Management Inc. lifted its position in shares of Apple Hospitality REIT by 21.1% during the second 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Apple Hospitality REIT by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock worth $2,764,000 after purchasing an additional 1,068 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Apple Hospitality REIT by 15.5% during the second quarter. GAMMA Investing LLC now owns 11,552 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 1,548 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Apple Hospitality REIT by 3.0% during the first quarter. Cetera Investment Advisers now owns 54,066 shares of the real estate investment trust’s stock worth $622,000 after purchasing an additional 1,568 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 is a self-administered and self-managed real estate investment trust that owns a portfolio of upscale, select-service hotels across the United States. The company’s properties primarily operate under well-known hospitality brands affiliated with Marriott International, Hilton Worldwide Holdings and Hyatt Hotels Corporation.

Apple Hospitality’s hotels provide lodging and related guest services, including accommodations, meeting facilities, food and beverage offerings, and other amenities.