Apple Hospitality REIT (NYSE:APLE) Sets New 1-Year High - Should You Buy?

Key Points

• Apple Hospitality REIT hit a new 52-week high, with shares trading as high as $17.08, reflecting strong recent momentum in the stock.
• Analysts have generally been mixed: several firms raised their price targets, but the overall consensus remains Hold with an average target price of $14.94, below the current trading level.
• The REIT reported a quarterly earnings beat and announced a monthly dividend of $0.08 per share, implying a 5.7% yield, though the payout ratio is elevated at 131.51%.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.08 and last traded at $16.9990, with a volume of 1323 shares traded. The stock had previously closed at $17.04.

Analysts Set New Price Targets

APLE has been the topic of a number of research reports. Cantor Fitzgerald raised their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. LADENBURG THALM/SH SH increased their price objective on Apple Hospitality REIT from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, June 18th. Weiss Ratings raised Apple Hospitality REIT from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. Wells Fargo & Company boosted their target price on Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Monday, June 1st. Finally, BMO Capital Markets boosted their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a "market perform" rating in a research report on Friday, June 12th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Apple Hospitality REIT has a consensus rating of "Hold" and a consensus target price of $14.94.

Apple Hospitality REIT Trading Down 0.4%

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 firm has a 50-day moving average of $14.73 and a 200-day moving average of $13.01. The firm has a market capitalization of $4.00 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 8.32 and a beta of 0.89.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. The company had revenue of $337.74 million during the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. On average, equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.58 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Tuesday, June 30th. Apple Hospitality REIT's payout ratio is currently 131.51%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Apple Hospitality REIT

Several hedge funds have recently made changes to their positions in APLE. Cozad Asset Management Inc. raised its holdings in shares of Apple Hospitality REIT by 20.1% during the first quarter. Cozad Asset Management Inc. now owns 97,244 shares of the real estate investment trust's stock valued at $1,119,000 after acquiring an additional 16,269 shares in the last quarter. Bank of America Corp DE increased its position in Apple Hospitality REIT by 6.0% during the 1st quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust's stock valued at $23,585,000 after purchasing an additional 115,575 shares during the period. Amundi increased its position in Apple Hospitality REIT by 2.8% during the 1st quarter. Amundi now owns 155,765 shares of the real estate investment trust's stock valued at $1,793,000 after purchasing an additional 4,200 shares during the period. California State Teachers Retirement System raised its holdings in Apple Hospitality REIT by 28.6% in the 1st quarter. California State Teachers Retirement System now owns 278,185 shares of the real estate investment trust's stock worth $3,202,000 after purchasing an additional 61,900 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in Apple Hospitality REIT by 8.1% in the 1st quarter. Royal Bank of Canada now owns 183,434 shares of the real estate investment trust's stock worth $2,112,000 after purchasing an additional 13,701 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other 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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