Apple Hospitality REIT, Inc. (NYSE:APLE) Given Average Rating of “Hold” by Brokerages

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) have been assigned a consensus rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $14.9375.

A number of analysts have recently weighed in on APLE shares. BMO Capital Markets upped their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, June 12th. Wells Fargo & Company increased their target price on Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Cantor Fitzgerald raised their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. LADENBURG THALM/SH SH boosted their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Finally, Barclays upped their price objective on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the transaction, the chairman directly owned 747,191 shares in the company, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

Large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at approximately $40,950,000. Centerbridge Partners L.P. increased its position in Apple Hospitality REIT by 88.2% during the 4th quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock worth $50,123,000 after purchasing an additional 1,982,000 shares in the last quarter. UBS Group AG increased its position in Apple Hospitality REIT by 60.8% during the 4th quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock worth $55,950,000 after purchasing an additional 1,786,018 shares in the last quarter. Rush Island Management LP acquired a new position in Apple Hospitality REIT during the 1st quarter worth approximately $17,143,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Apple Hospitality REIT in the 4th quarter valued at approximately $13,361,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Up 0.8%

Shares of APLE opened at $16.62 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. Apple Hospitality REIT has a 12 month low of $10.85 and a 12 month high of $17.06. The firm’s 50 day moving average is $15.03 and its 200-day moving average is $13.15. The stock has a market capitalization of $3.92 billion, a PE ratio of 22.76, a P/E/G ratio of 8.05 and a beta of 0.87.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The business had revenue of $337.74 million for the quarter, compared to the consensus estimate of $327.81 million. Equities research analysts forecast that Apple Hospitality REIT will post 1.58 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 5.8%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 131.51%.

About Apple Hospitality REIT

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.