Apple Hospitality REIT (NYSE:APLE) Sets New 52-Week Low – Here’s Why

Apple Hospitality REIT, Inc. (NYSE:APLE) hit a new 52-week low on Friday . The company traded as low as $13.01 and last traded at $13.12, with a volume of 576467 shares trading hands. The stock had previously closed at $13.51.

Analyst Ratings Changes

APLE has been the topic of a number of recent analyst reports. BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 price objective on the stock. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Wells Fargo & Company lowered their target price on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Finally, Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Apple Hospitality REIT presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

Apple Hospitality REIT Trading Down 2.3 %

The company has a fifty day simple moving average of $14.82 and a 200-day simple moving average of $15.10. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 15.50 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $333.04 million for the quarter, compared to the consensus estimate of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. On average, research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 7.28%. Apple Hospitality REIT’s payout ratio is presently 109.09%.

Institutional Trading of Apple Hospitality REIT

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its holdings in shares of Apple Hospitality REIT by 45.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 18,970 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 5,920 shares during the period. Segall Bryant & Hamill LLC increased its holdings in shares of Apple Hospitality REIT by 3.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 380,163 shares of the real estate investment trust’s stock valued at $5,645,000 after purchasing an additional 12,089 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Apple Hospitality REIT in the 3rd quarter valued at about $611,000. Aurora Investment Counsel grew its stake in shares of Apple Hospitality REIT by 20.2% in the 3rd quarter. Aurora Investment Counsel now owns 91,140 shares of the real estate investment trust’s stock valued at $1,353,000 after buying an additional 15,338 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Apple Hospitality REIT in the 3rd quarter valued at approximately $887,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

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.