Apple Hospitality REIT (NYSE:APLE) Sets New 12-Month High – Should You Buy?

Apple Hospitality REIT, Inc. (NYSE:APLE)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $16.88 and last traded at $16.6150, with a volume of 2402822 shares traded. The stock had previously closed at $16.59.

Analyst Ratings Changes

A number of equities analysts recently weighed in on APLE shares. Cantor Fitzgerald upped their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. started coverage on Apple Hospitality REIT in a research note on Monday, June 1st. They issued a “neutral” rating and a $15.00 price target on the stock. Wells Fargo & Company boosted their price target on Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. LADENBURG THALM/SH SH upped their price objective on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Finally, BMO Capital Markets increased 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 analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.94.

Apple Hospitality REIT Price Performance

The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 8.10 and a beta of 0.89. The company’s fifty day moving average is $14.39 and its 200 day moving average is $12.87. 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 issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The firm had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. On average, equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.58 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

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

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $13.96 per share, with a total value of $69,800.00. Following the completion of the transaction, the chairman owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted 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 valued at $31,000 after buying an additional 1,814 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Apple Hospitality REIT by 1,375.0% during the second 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 stake in Apple Hospitality REIT during the third quarter worth $36,000. Godfrey Financial Associates Inc. bought a new stake in Apple Hospitality REIT during the fourth quarter worth $43,000. Finally, Inspire Investing LLC lifted its stake in Apple Hospitality REIT by 2,965.1% in the first quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock valued at $44,000 after acquiring 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.