Apple Hospitality REIT (NYSE:APLE) Sets New 1-Year High - Here's Why

Key Points

• Apple Hospitality REIT (NYSE: APLE) hit a new 52-week high, trading as high as $17.09 after closing previously at $16.84.
• Several analysts recently raised price targets on the stock, with new targets mostly in the $15 to $16 range; the consensus rating remains Hold with an average target of $14.94.
• The REIT reported better-than-expected quarterly results with EPS of $0.12 and revenue of $337.74 million, and it also pays a monthly dividend yielding about 5.6%.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $17.09 and last traded at $17.0550, with a volume of 208414 shares. The stock had previously closed at $16.84.

Analyst Ratings Changes

APLE has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a "market perform" rating in a report on Friday, June 12th. Cantor Fitzgerald increased their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. assumed coverage on shares of Apple Hospitality REIT in a research report on Monday, June 1st. They issued a "neutral" rating and a $15.00 price objective for the company. Barclays boosted their price objective on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Finally, Wells Fargo & Company upped their target price on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an "equal weight" rating in a report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $14.94.

Apple Hospitality REIT Price Performance

The firm has a market capitalization of $4.02 billion, a PE ratio of 23.31, a P/E/G ratio of 8.22 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The business's 50 day moving average is $15.70 and its two-hundred day moving average is $13.49.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly 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. The business had revenue of $337.74 million during the quarter, compared to analysts' expectations of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. As a group, research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.58 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Apple Hospitality REIT's dividend payout ratio is currently 131.51%.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight purchased 5,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the purchase, the chairman directly owned 747,191 shares in the company, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its stake in shares of Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Apple Hospitality REIT by 1,375.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust's stock worth $33,000 after buying an additional 2,640 shares in the last quarter. Danske Bank A S purchased a new stake in Apple Hospitality REIT in the third quarter worth about $36,000. Godfrey Financial Associates Inc. purchased a new stake in Apple Hospitality REIT in the fourth quarter worth about $43,000. Finally, Smartleaf Asset Management LLC boosted its position in Apple Hospitality REIT by 97.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 1,872 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

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.

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