Apple Hospitality REIT (NYSE:APLE) Reaches New 12-Month High – Time to Buy?

Apple Hospitality REIT, Inc. (NYSE:APLE)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $17.08 and last traded at $16.9990, with a volume of 1323 shares traded. The stock had previously closed at $17.04.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Apple Hospitality REIT from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. BMO Capital Markets raised their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, June 12th. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Wells Fargo & Company increased their price objective on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, Cantor Fitzgerald raised their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.94.

Apple Hospitality REIT Trading Down 0.2%

The business has a 50 day simple moving average of $14.89 and a two-hundred day simple moving average of $13.09. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 8.25 and a beta of 0.89.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. As a group, equities analysts anticipate that Apple Hospitality REIT, Inc. will post 1.58 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Tuesday, June 30th. Apple Hospitality REIT’s dividend payout ratio is 131.51%.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $13.96 per share, with a total value of $69,800.00. Following the acquisition, the chairman directly owned 747,191 shares in the company, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Several large investors have recently modified their holdings of the stock. Centerbridge Partners L.P. boosted its holdings in shares of Apple Hospitality REIT by 18.4% in the 3rd quarter. Centerbridge Partners L.P. now owns 2,247,785 shares of the real estate investment trust’s stock valued at $26,996,000 after buying an additional 350,000 shares during the period. SG Americas Securities LLC raised its stake in Apple Hospitality REIT by 91.9% during the fourth quarter. SG Americas Securities LLC now owns 109,512 shares of the real estate investment trust’s stock worth $1,298,000 after acquiring an additional 52,446 shares during the period. UBS Group AG lifted its holdings in Apple Hospitality REIT by 60.8% in the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock worth $55,950,000 after acquiring an additional 1,786,018 shares during the last quarter. Pacer Advisors Inc. bought a new position in Apple Hospitality REIT in the fourth quarter worth about $11,498,000. Finally, Wolverine Asset Management LLC boosted its stake in Apple Hospitality REIT by 50.3% in the fourth quarter. Wolverine Asset Management LLC now owns 319,553 shares of the real estate investment trust’s stock valued at $3,787,000 after acquiring an additional 106,946 shares during the period. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.