Apple Hospitality REIT, Inc. (NYSE:APLE) Sees Large Growth in Short Interest

Apple Hospitality REIT, Inc. (NYSE:APLE) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 8,450,000 shares, a growth of 12.7% from the December 15th total of 7,500,000 shares. Currently, 3.8% of the shares of the company are sold short. Based on an average daily volume of 1,760,000 shares, the days-to-cover ratio is currently 4.8 days.

Apple Hospitality REIT Stock Performance

NYSE:APLE traded down $0.05 on Friday, reaching $15.05. 1,578,843 shares of the company’s stock were exchanged, compared to its average volume of 1,518,884. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 17.70 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a fifty day simple moving average of $15.60 and a 200-day simple moving average of $14.98. Apple Hospitality REIT has a 52 week low of $13.60 and a 52 week high of $16.99.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. During the same period last year, the business posted $0.45 earnings per share. As a group, sell-side analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.38%. The ex-dividend date was Tuesday, December 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Analyst Upgrades and Downgrades

APLE has been the topic of a number of recent analyst reports. Oppenheimer reiterated an “outperform” rating and set a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.50.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors have recently added to or reduced their stakes in APLE. Quarry LP grew its holdings 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 valued at $33,000 after buying an additional 1,290 shares in the last quarter. GAMMA Investing LLC boosted its position 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 valued at $40,000 after acquiring an additional 780 shares during the period. Covestor Ltd grew its stake in Apple Hospitality REIT by 30.0% during the third quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 1,831 shares in the last quarter. Blue Trust Inc. increased its holdings in Apple Hospitality REIT by 21.3% during the 3rd quarter. Blue Trust Inc. now owns 11,716 shares of the real estate investment trust’s stock worth $170,000 after acquiring an additional 2,059 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Apple Hospitality REIT by 28.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,262 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 2,506 shares in the last quarter. Hedge funds and other institutional investors 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.