Apple Hospitality REIT (NYSE:APLE) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Apple Hospitality REIT (NYSE:APLE) from a sell rating to a hold rating in a research report released on Friday morning.

APLE has been the topic of a number of other research reports. Oppenheimer restated an “outperform” rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Wells Fargo & Company cut their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.50.

Apple Hospitality REIT Trading Up 2.2 %

Shares of NYSE:APLE opened at $16.09 on Friday. The business’s 50-day moving average is $15.12 and its 200 day moving average is $14.68. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $17.90. The firm has a market capitalization of $3.86 billion, a P/E ratio of 18.93 and a beta of 1.11.

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

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 5.97%. The ex-dividend date is Friday, November 29th. Apple Hospitality REIT’s payout ratio is 112.94%.

Institutional Trading of Apple Hospitality REIT

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Apple Hospitality REIT by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after purchasing an additional 1,217,142 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Apple Hospitality REIT by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,398,673 shares of the real estate investment trust’s stock valued at $121,192,000 after buying an additional 253,082 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Apple Hospitality REIT by 11.9% in the third quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock worth $100,059,000 after buying an additional 718,844 shares during the last quarter. Geode Capital Management LLC grew its holdings in Apple Hospitality REIT by 1.1% during the third quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock worth $85,571,000 after acquiring an additional 62,149 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Apple Hospitality REIT by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock valued at $66,187,000 after acquiring an additional 182,917 shares in 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 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.