Apple Hospitality REIT, Inc. (NYSE:APLE) Sees Large Increase in Short Interest

Apple Hospitality REIT, Inc. (NYSE:APLE) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 8,450,000 shares, an increase of 12.7% from the December 15th total of 7,500,000 shares. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is presently 4.8 days. Currently, 3.8% of the company’s stock are sold short.

Apple Hospitality REIT Trading Down 0.3 %

NYSE APLE opened at $15.05 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $16.99. The company has a 50-day simple moving average of $15.60 and a 200-day simple moving average of $14.99. The firm has a market capitalization of $3.61 billion, a PE ratio of 17.70 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The company had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, equities analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.38%. Apple Hospitality REIT’s payout ratio is currently 112.94%.

Institutional Investors Weigh In On Apple Hospitality REIT

Several large investors have recently added to or reduced their stakes in APLE. GAMMA Investing LLC grew its position in shares of Apple Hospitality REIT by 40.4% during the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 780 shares during the last quarter. Amalgamated Bank boosted its stake in Apple Hospitality REIT by 1.2% during the 2nd quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock valued at $996,000 after purchasing an additional 813 shares during the period. First Trust Direct Indexing L.P. grew its position in Apple Hospitality REIT by 6.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust’s stock worth $241,000 after purchasing an additional 921 shares during the last quarter. Ellis Investment Partners LLC increased its stake in shares of Apple Hospitality REIT by 4.6% in the third quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust’s stock valued at $318,000 after purchasing an additional 948 shares during the period. Finally, Inspire Advisors LLC raised its holdings in shares of Apple Hospitality REIT by 8.2% during the third quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 1,008 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on APLE shares. Oppenheimer restated an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. BMO Capital Markets began coverage on 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. Finally, StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.50.

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.