Apple Hospitality REIT (NYSE:APLE) Upgraded by StockNews.com to “Hold”

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

Separately, Bank of America cut shares of Apple Hospitality REIT from a buy rating to a neutral rating and decreased their target price for the company from $19.00 to $18.00 in a research note on Monday, January 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $18.40.

Apple Hospitality REIT Stock Up 0.4 %

Shares of APLE stock opened at $14.87 on Tuesday. Apple Hospitality REIT has a twelve month low of $14.22 and a twelve month high of $17.90. The stock has a market cap of $3.60 billion, a P/E ratio of 19.06 and a beta of 1.10. The stock has a 50 day moving average of $15.90 and a 200 day moving average of $16.22. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.45.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date of this dividend is Monday, April 29th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 123.08%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Securities Inc. acquired a new position in Apple Hospitality REIT during the fourth quarter worth $26,000. EdgeRock Capital LLC purchased a new stake in shares of Apple Hospitality REIT during the fourth quarter worth about $27,000. YHB Investment Advisors Inc. acquired a new position in shares of Apple Hospitality REIT during the 1st quarter worth about $37,000. GAMMA Investing LLC purchased a new position in Apple Hospitality REIT in the 4th quarter valued at about $41,000. Finally, Fortis Group Advisors LLC boosted its holdings in Apple Hospitality REIT by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,493 shares during 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.