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

Key Points

• Apple Hospitality REIT received a consensus "Moderate Buy" rating from analysts, with an average 1-year price target of $14.80.
• The company is set to pay a $0.08 dividend on October 15th, which has a yield of 799.0%, indicating a high dividend payout ratio of 128.00%.
• In recent insider activity, Chairman Glade M. Knight purchased 5,000 shares at an average price of $12.29, increasing his position in the company.

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $14.80.

Several equities research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Apple Hospitality REIT from $12.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. Cantor Fitzgerald set a $14.00 price objective on shares of Apple Hospitality REIT and gave the company an "overweight" rating in a research note on Wednesday. Finally, BMO Capital Markets lowered shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $14.00 to $12.00 in a research note on Monday, June 9th.

Apple Hospitality REIT Stock Up 0.7%

APLE stock opened at $12.01 on Wednesday. Apple Hospitality REIT has a 12 month low of $10.44 and a 12 month high of $16.50. The firm has a market cap of $2.85 billion, a PE ratio of 16.01 and a beta of 1.05. The firm has a 50 day simple moving average of $12.39 and a 200 day simple moving average of $12.13. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. The business had revenue of $384.37 million during the quarter, compared to analyst estimates of $381.37 million. Equities research analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a oct 25 dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.08 dividend. This represents a yield of 799.0%. The ex-dividend date is Tuesday, September 30th. Apple Hospitality REIT's dividend payout ratio is currently 128.00%.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $12.29 per share, for a total transaction of $61,450.00. Following the purchase, the chairman directly owned 705,344 shares in the company, valued at $8,668,677.76. This trade represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC grew its stake in Apple Hospitality REIT by 14.9% in the 2nd quarter. Signaturefd LLC now owns 7,058 shares of the real estate investment trust's stock valued at $82,000 after buying an additional 913 shares during the last quarter. Isthmus Partners LLC grew its stake in Apple Hospitality REIT by 0.5% in the 1st quarter. Isthmus Partners LLC now owns 200,823 shares of the real estate investment trust's stock valued at $2,593,000 after buying an additional 919 shares during the last quarter. Versor Investments LP grew its stake in Apple Hospitality REIT by 3.6% in the 1st quarter. Versor Investments LP now owns 29,000 shares of the real estate investment trust's stock valued at $374,000 after buying an additional 1,000 shares during the last quarter. Xponance Inc. grew its position in Apple Hospitality REIT by 6.4% in the 1st quarter. Xponance Inc. now owns 17,385 shares of the real estate investment trust's stock worth $224,000 after purchasing an additional 1,044 shares during the last quarter. Finally, PharVision Advisers LLC grew its position in Apple Hospitality REIT by 8.0% in the 1st quarter. PharVision Advisers LLC now owns 14,263 shares of the real estate investment trust's stock worth $184,000 after purchasing an additional 1,058 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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.

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