Apple Hospitality REIT, Inc. (NYSE:APLE) Receives $16.80 Consensus Target Price from Brokerages

Apple Hospitality REIT, Inc. (NYSE:APLE) has earned an average rating of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $16.80.

Several equities analysts have recently commented on APLE shares. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective on the stock. Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Finally, Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $16.00 to $17.00 in a research report on Monday, January 27th.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of institutional investors and hedge funds have recently made changes to their positions in APLE. Price T Rowe Associates Inc. MD grew its position in Apple Hospitality REIT by 27.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust’s stock worth $126,472,000 after acquiring an additional 1,761,996 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Apple Hospitality REIT by 0.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,767,740 shares of the real estate investment trust’s stock valued at $103,885,000 after purchasing an additional 29,781 shares during the last quarter. Geode Capital Management LLC raised its holdings in Apple Hospitality REIT by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock valued at $85,571,000 after buying an additional 62,149 shares during the period. JPMorgan Chase & Co. lifted its position in Apple Hospitality REIT by 0.4% in the third quarter. JPMorgan Chase & Co. now owns 5,243,575 shares of the real estate investment trust’s stock worth $77,867,000 after buying an additional 18,858 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Apple Hospitality REIT by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust’s stock worth $70,465,000 after buying an additional 133,505 shares during the period. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Down 1.2 %

APLE stock opened at $13.22 on Wednesday. The business’s 50-day moving average price is $14.74 and its 200-day moving average price is $15.09. The stock has a market cap of $3.17 billion, a P/E ratio of 15.55 and a beta of 1.12. Apple Hospitality REIT has a twelve month low of $13.01 and a twelve month high of $16.60. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

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

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 7.26%. The ex-dividend date of this dividend is Monday, March 31st. Apple Hospitality REIT’s dividend payout ratio is presently 109.09%.

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.