Apple Hospitality REIT (NYSE:APLE) Share Price Passes Above 50-Day Moving Average – Here’s Why

Apple Hospitality REIT, Inc. (NYSE:APLE) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $15.70 and traded as high as $16.92. Apple Hospitality REIT shares last traded at $16.8370, with a volume of 2,076,001 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. LADENBURG THALM/SH SH upped their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Barclays boosted their target price on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. began coverage on Apple Hospitality REIT in a report on Monday, June 1st. They set a “neutral” rating and a $15.00 price target on the stock. 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 note on Wednesday, May 13th. Finally, BMO Capital Markets lifted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, June 12th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Hold” and an average target price of $14.94.

Apple Hospitality REIT Trading Down 0.1%

The stock has a fifty day simple moving average of $15.70 and a 200 day simple moving average of $13.48. The firm has a market capitalization of $3.97 billion, a P/E ratio of 23.06, a PEG ratio of 8.23 and a beta of 0.87. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The firm had revenue of $337.74 million during the quarter, compared to analysts’ expectations 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, research analysts forecast that Apple Hospitality REIT, Inc. will post 1.58 EPS for the current year.

Apple Hospitality REIT Announces Dividend

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

Insiders Place Their Bets

In related news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, the chairman owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in Apple Hospitality REIT by 2.8% during the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock valued at $2,205,000 after purchasing an additional 4,712 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Apple Hospitality REIT by 114.3% in the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock worth $1,732,000 after buying an additional 72,553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Apple Hospitality REIT by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock worth $1,776,000 after buying an additional 6,788 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,814 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Apple Hospitality REIT by 10,235.7% during the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 21,495 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 (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.