Apple Hospitality REIT (NYSE:APLE) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Apple Hospitality REIT (NYSE:APLE) from a sell rating to a hold rating in a research note published on Friday morning.

APLE has been the topic of a number of other research reports. Wells Fargo & Company reduced their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Oppenheimer reiterated an “outperform” rating and set a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Apple Hospitality REIT currently has a consensus rating of “Hold” and a consensus price target of $16.50.

Apple Hospitality REIT Stock Up 1.4 %

APLE opened at $16.33 on Friday. The business’s fifty day simple moving average is $15.16 and its 200 day simple moving average is $14.69. Apple Hospitality REIT has a 52 week low of $13.60 and a 52 week high of $17.90. The firm has a market cap of $3.92 billion, a P/E ratio of 19.20 and a beta of 1.11. 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 announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The firm had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. During the same quarter last year, the business posted $0.45 EPS. As a group, equities research analysts anticipate that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 5.88%. The ex-dividend date of this dividend is Friday, November 29th. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

Institutional Trading of Apple Hospitality REIT

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Apple Hospitality REIT by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock worth $582,400,000 after purchasing an additional 1,217,142 shares during the period. Masterton Capital Management LP bought a new position in shares of Apple Hospitality REIT in the 2nd quarter worth about $3,378,000. Dimensional Fund Advisors LP boosted its holdings in shares of Apple Hospitality REIT by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock valued at $49,072,000 after buying an additional 154,159 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Apple Hospitality REIT by 14.9% in the 3rd quarter. Sound Income Strategies LLC now owns 818,601 shares of the real estate investment trust’s stock valued at $12,156,000 after buying an additional 105,993 shares during the period. Finally, Aurora Investment Counsel grew its position in shares of Apple Hospitality REIT by 182.9% during the 2nd quarter. Aurora Investment Counsel now owns 75,802 shares of the real estate investment trust’s stock valued at $1,102,000 after buying an additional 49,003 shares during the last quarter. 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.