Apple Hospitality REIT (NYSE:APLE) Sets New 12-Month High - Still a Buy?

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.68 and last traded at $13.6090, with a volume of 4151470 shares changing hands. The stock had previously closed at $13.16.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on APLE. Wells Fargo & Company reduced their price objective on Apple Hospitality REIT from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 24th. Barclays reduced their price objective on Apple Hospitality REIT from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Cantor Fitzgerald restated an "overweight" rating and set a $14.00 price objective on shares of Apple Hospitality REIT in a research report on Tuesday, March 3rd. LADENBURG THALM/SH SH began coverage on Apple Hospitality REIT in a research report on Thursday, March 26th. They set a "neutral" rating and a $13.00 price objective for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Apple Hospitality REIT in a research report on Wednesday, April 22nd. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Apple Hospitality REIT has an average rating of "Hold" and a consensus target price of $12.64.

Apple Hospitality REIT Stock Up 3.4%

The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.52. The stock has a 50-day simple moving average of $12.29 and a 200-day simple moving average of $12.05. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 8.07 and a beta of 0.88.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a return on equity of 5.41% and a net margin of 12.08%.The company had revenue of $337.74 million during the quarter, compared to analyst estimates of $327.81 million. As a group, analysts predict that Apple Hospitality REIT, Inc. will post 1.51 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be given a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Thursday, April 30th. Apple Hospitality REIT's payout ratio is 129.73%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in Apple Hospitality REIT by 11.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,210 shares of the real estate investment trust's stock worth $545,000 after acquiring an additional 4,747 shares during the period. Principal Financial Group Inc. boosted its position in Apple Hospitality REIT by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 1,069,472 shares of the real estate investment trust's stock worth $12,310,000 after acquiring an additional 20,691 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Apple Hospitality REIT by 22.0% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 155,198 shares of the real estate investment trust's stock worth $1,786,000 after acquiring an additional 28,010 shares during the period. Fifth Third Bancorp boosted its position in Apple Hospitality REIT by 21.2% during the 1st quarter. Fifth Third Bancorp now owns 10,359 shares of the real estate investment trust's stock worth $119,000 after acquiring an additional 1,815 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Apple Hospitality REIT in the 1st quarter worth $702,000. Institutional investors and hedge funds own 89.66% of the company's stock.

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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