Apple Hospitality REIT, Inc. (NYSE:APLE) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately positive: Eleven brokerages give Apple Hospitality REIT a consensus “Moderate Buy” rating, with an average 12-month price target of $16.50.
• Recent results exceeded expectations: The REIT reported quarterly earnings of $0.28 per share versus the $0.27 consensus estimate, while revenue of $402.55 million topped expectations of $391.88 million.
• Investors continue to receive a monthly dividend: The company declared a $0.08-per-share dividend, representing an annualized yield of approximately 5.8%; institutional investors and hedge funds own 89.66% of the stock.

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $16.50.

APLE has been the topic of several recent research reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Apple Hospitality REIT in a report on Friday. Bank of America upped their price objective on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Compass Point raised Apple Hospitality REIT from a "neutral" rating to a "buy" rating and increased their target price for the stock from $17.50 to $18.50 in a research report on Friday, August 7th. LADENBURG THALM/SH SH raised their target price on Apple Hospitality REIT from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, June 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Tuesday, July 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of APLE. Royal Bank of Canada increased its stake in shares of Apple Hospitality REIT by 2.8% in the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust's stock valued at $2,205,000 after purchasing an additional 4,712 shares during the period. AQR Capital Management LLC boosted its position in shares of Apple Hospitality REIT by 114.3% during the first quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust's stock worth $1,732,000 after buying an additional 72,553 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Apple Hospitality REIT by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust's stock worth $1,776,000 after buying an additional 6,788 shares during the period. NewEdge Advisors LLC grew its holdings in 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 worth $31,000 after buying an additional 1,814 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Apple Hospitality REIT by 10,235.7% in the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust's stock worth $280,000 after buying an additional 21,495 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Price Performance

APLE opened at $16.61 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The company's 50-day moving average price is $16.49 and its 200 day moving average price is $14.23. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $17.28. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 3.15 and a beta of 0.88.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The company had revenue of $402.55 million during the quarter, compared to the consensus estimate of $391.88 million. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. As a group, sell-side analysts expect that Apple Hospitality REIT will post 1.64 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.08 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Monday, August 31st. Apple Hospitality REIT's dividend payout ratio (DPR) is 129.73%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source