Apple Hospitality REIT (NYSE:APLE) Sets New 52-Week High - Should You Buy?

Key Points

• New 52-week high: APLE traded as high as $13.55 (last $13.48) on strong volume (~3.6M shares) and sits above its 50- and 200-day moving averages near $12.24 and $12.02.
• Analyst consensus is cautious: Three Buys vs. five Holds produce a MarketBeat consensus rating of Hold with an average price target of $12.64, below the current share price.
• Dividend and fundamentals risk: The REIT declared a monthly $0.08 dividend (7.1% yield) but has a payout ratio of 129.7% and recently missed quarterly EPS ($0.13 vs. $0.29 est.), signaling potential sustainability concerns.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $13.55 and last traded at $13.4770, with a volume of 3597315 shares traded. The stock had previously closed at $13.39.

Analyst Ratings Changes

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

Apple Hospitality REIT Stock Performance

The business has a 50 day moving average of $12.24 and a 200 day moving average of $12.02. The company has a market capitalization of $3.18 billion, a P/E ratio of 18.21 and a beta of 0.82. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.52.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.16). Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. The firm had revenue of $326.44 million for the quarter, compared to the consensus estimate of $322.60 million. On average, sell-side analysts predict that Apple Hospitality REIT, Inc. will post 1.51 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

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

Institutional Investors Weigh In On Apple Hospitality REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its position in Apple Hospitality REIT by 295.9% during the first 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 during the period. EverSource Wealth Advisors LLC raised its position in Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 2,640 shares during the period. Cloud Capital Management LLC purchased a new stake in Apple Hospitality REIT during the third quarter valued at approximately $34,000. Danske Bank A S purchased a new stake in Apple Hospitality REIT during the third quarter valued at approximately $36,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in Apple Hospitality REIT during the fourth quarter valued at approximately $43,000. 89.66% of the stock is currently 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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