Apple Hospitality REIT (NYSE:APLE) Reaches New 1-Year High - Still a Buy?

Key Points

• Apple Hospitality REIT shares hit a new 52-week high of $14.61, extending recent strength after rising about 1.5% in trading.
• Analysts remain mixed: the stock has a consensus Hold rating and average target price of $12.93, though Cantor Fitzgerald raised its target to $16 while others trimmed targets.
• The REIT reported better-than-expected Q1 earnings and announced a monthly dividend of $0.08 per share, implying an annualized yield of about 6.5%; chairman Glade M. Knight also bought 5,000 shares recently.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $14.61 and last traded at $14.61, with a volume of 54051 shares trading hands. The stock had previously closed at $14.47.

Analysts Set New Price Targets

A number of brokerages recently commented on APLE. Wells Fargo & Company reduced their price target on Apple Hospitality REIT from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, March 24th. Cantor Fitzgerald increased their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. Barclays reduced their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Tuesday, April 7th. LADENBURG THALM/SH SH began coverage on Apple Hospitality REIT in a report on Thursday, March 26th. They issued a "neutral" rating and a $13.00 price target for the company. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Apple Hospitality REIT in a report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $12.93.

Apple Hospitality REIT Trading Up 1.5%

The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The business has a fifty day simple moving average of $12.81 and a 200 day simple moving average of $12.31. The company has a market cap of $3.47 billion, a P/E ratio of 20.11 and a beta of 0.88.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The company had revenue of $337.74 million for the quarter, compared to the consensus estimate of $327.81 million. Analysts anticipate that Apple Hospitality REIT, Inc. will post 1.55 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Friday, May 29th. Apple Hospitality REIT's dividend payout ratio (DPR) is currently 131.51%.

Insider Buying and Selling

In other news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction on Monday, May 11th. The shares were bought at an average price of $13.96 per share, with a total value of $69,800.00. Following the acquisition, the chairman directly owned 747,191 shares in the company, valued at approximately $10,430,786.36. This represents a 0.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Apple Hospitality REIT by 0.5% during the 4th quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust's stock worth $154,627,000 after purchasing an additional 68,794 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Apple Hospitality REIT by 1.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust's stock valued at $84,227,000 after acquiring an additional 127,327 shares during the period. UBS Group AG boosted its holdings in shares of Apple Hospitality REIT by 60.8% during the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust's stock valued at $55,950,000 after acquiring an additional 1,786,018 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Apple Hospitality REIT by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust's stock valued at $55,871,000 after acquiring an additional 125,759 shares during the period. Finally, Centerbridge Partners L.P. increased its holdings in shares of Apple Hospitality REIT by 88.2% in the 4th quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust's stock worth $50,123,000 after acquiring an additional 1,982,000 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Company Profile

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.

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