Apple Hospitality REIT (NYSE:APLE) Hits New 52-Week High – What’s Next?

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) hit a new 52-week high during trading on Friday . The company traded as high as $15.78 and last traded at $15.7350, with a volume of 619517 shares traded. The stock had previously closed at $15.67.

Wall Street Analyst Weigh In

A number of equities analysts have commented on APLE shares. Barclays upped their target price on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Wells Fargo & Company increased their price objective on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. LADENBURG THALM/SH SH began coverage on shares of Apple Hospitality REIT in a research note on Thursday, March 26th. They set a “neutral” rating and a $13.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of Apple Hospitality REIT in a research note on Monday, June 1st. They set a “neutral” rating and a $15.00 price objective on the stock. Finally, Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.94.

Apple Hospitality REIT Trading Down 0.4%

The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 21.39 and a beta of 0.89. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The company’s 50 day simple moving average is $13.40 and its two-hundred day simple moving average is $12.52.

Apple Hospitality REIT (NYSE:APLE) last posted 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. The business had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. As a group, research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 131.51%.

Insider Activity

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the acquisition, the chairman owned 747,191 shares in the company, valued at approximately $10,430,786.36. This represents a 0.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Centerbridge Partners L.P. raised its holdings in shares of Apple Hospitality REIT by 18.4% in the third quarter. Centerbridge Partners L.P. now owns 2,247,785 shares of the real estate investment trust’s stock worth $26,996,000 after buying an additional 350,000 shares during the last quarter. Waterfall Asset Management LLC raised its holdings in shares of Apple Hospitality REIT by 82.5% in the third quarter. Waterfall Asset Management LLC now owns 730,000 shares of the real estate investment trust’s stock worth $8,767,000 after buying an additional 330,000 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Apple Hospitality REIT by 10.8% in the third quarter. Public Sector Pension Investment Board now owns 972,074 shares of the real estate investment trust’s stock worth $11,675,000 after buying an additional 94,630 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Apple Hospitality REIT by 91.9% in 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 buying an additional 52,446 shares during the last quarter. Finally, UBS Group AG raised its holdings in shares of Apple Hospitality REIT by 60.8% during 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 purchasing an additional 1,786,018 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 (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.