Apple Hospitality REIT, Inc. (NYSE:APLE) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on Apple Hospitality REIT, with seven hold ratings and four buys. The average 12-month price target is $16.50, compared with the stock’s $15.44 opening price.
• Institutional ownership is substantial at 89.66%, with major investors including Norges Bank, Centerbridge Partners and Bank of New York Mellon adding or initiating positions.
• Apple Hospitality beat quarterly expectations, reporting $0.28 in EPS and $402.55 million in revenue, while paying a monthly $0.08 dividend that equates to an approximately 6.2% annualized yield.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) has been given a consensus recommendation of "Hold" by the eleven research firms that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $16.50.

APLE has been the subject of a number of analyst reports. Bank of America upped their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Compass Point upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $17.50 to $18.50 in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Zacks Research cut shares of Apple Hospitality REIT from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 27th. Finally, Barclays reaffirmed an "equal weight" rating and set a $17.00 price target (up from $16.00) on shares of Apple Hospitality REIT in a report on Tuesday, July 21st.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Apple Hospitality REIT in the fourth quarter valued at $40,950,000. Centerbridge Partners L.P. raised its stake in Apple Hospitality REIT by 88.2% during the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust's stock valued at $50,123,000 after purchasing an additional 1,982,000 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Apple Hospitality REIT during the second quarter valued at $26,774,000. Rush Island Management LP bought a new position in Apple Hospitality REIT during the first quarter valued at $17,143,000. Finally, Pacer Advisors Inc. bought a new position in Apple Hospitality REIT during the fourth quarter valued at $11,498,000. Hedge funds and other institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Trading Down 0.3%

Shares of Apple Hospitality REIT stock opened at $15.44 on Wednesday. The company's fifty day simple moving average is $16.25 and its 200-day simple moving average is $14.68. The stock has a market capitalization of $3.64 billion, a PE ratio of 20.86, a P/E/G ratio of 3.03 and a beta of 0.88. Apple Hospitality REIT has a 1-year low of $10.85 and a 1-year high of $17.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%.The firm had revenue of $402.55 million during the quarter, compared to analyst estimates of $391.88 million. As a group, equities analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. Apple Hospitality REIT's dividend payout ratio is 129.73%.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a real estate investment trust that owns a portfolio of upscale, select-service and extended-stay hotels across the United States. The company generates revenue primarily through hotel operations, including room accommodations, food and beverage services, and other guest services.

Its properties operate under well-known hotel brands, including Marriott, Hilton and Hyatt. The portfolio includes brands such as Courtyard by Marriott, Fairfield by Marriott, Residence Inn, SpringHill Suites, Hampton by Hilton, Hilton Garden Inn, Homewood Suites, Hyatt Place and Hyatt House, among others.

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