Apple Hospitality REIT (NYSE:APLE) Hits New 52-Week High – Time to Buy?

Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.38 and last traded at $16.3650, with a volume of 2513359 shares trading hands. The stock had previously closed at $16.15.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Cantor Fitzgerald boosted their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Wells Fargo & Company boosted their price target on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. assumed coverage on shares of Apple Hospitality REIT in a research report on Monday, June 1st. They issued a “neutral” rating and a $15.00 price target on the stock. BMO Capital Markets boosted 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 research report on Friday, June 12th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Apple Hospitality REIT has a consensus rating of “Hold” and a consensus target price of $14.44.

Apple Hospitality REIT Stock Up 1.3%

The stock’s fifty day moving average is $14.02 and its two-hundred day moving average is $12.74. 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 firm has a market cap of $3.86 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 7.89 and a beta of 0.89.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $337.74 million for the quarter, compared to analyst estimates 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 year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Friday, May 29th. Apple Hospitality REIT’s dividend payout ratio is 131.51%.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $13.96 per share, with a total value of $69,800.00. Following the acquisition, 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 legal filing with the SEC, which is available through this link. Company insiders own 6.90% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

Hedge funds and other institutional investors have recently bought and sold shares of the company. 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. EverSource Wealth Advisors LLC increased its holdings in shares of Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,640 shares during the last quarter. Danske Bank A S bought a new position in shares of Apple Hospitality REIT in the 3rd quarter worth $36,000. Godfrey Financial Associates Inc. bought a new position in shares of Apple Hospitality REIT in the 4th quarter worth $43,000. Finally, Inspire Investing LLC increased its holdings in shares of Apple Hospitality REIT by 2,965.1% in the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 3,736 shares during the last quarter. 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.