Apple Hospitality REIT, Inc. (NYSE:APLE) Stock Has Average Target Price of $16.94

Key Points

• Analyst consensus is “Hold”: Seven of ten analysts rate Apple Hospitality REIT a hold, while three recommend buying. The average 12-month price target is $16.94, modestly above the reported $16.30 share price.
• Apple Hospitality exceeded quarterly expectations, reporting $0.28 in EPS versus a $0.27 consensus and revenue of $402.55 million versus estimates of $391.88 million.
• The company declared a monthly dividend of $0.08 per share, equivalent to an annualized $0.96 payout and a 5.9% yield; however, its dividend payout ratio is high at 129.73%.

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) have earned an average recommendation of "Hold" from the ten analysts that are currently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $16.94.

A number of equities analysts have recently commented on the company. Zacks Research cut Apple Hospitality REIT from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 27th. Barclays reiterated an "equal weight" rating and issued a $17.00 target price (up from $16.00) on shares of Apple Hospitality REIT in a research report on Tuesday, July 21st. Wells Fargo & Company boosted their target price on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of Apple Hospitality REIT from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Finally, Compass Point upgraded shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and raised their price target for the company from $17.50 to $18.50 in a research note on Friday, August 7th.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $16.30 on Friday. The stock has a market capitalization of $3.85 billion, a PE ratio of 22.02, a P/E/G ratio of 3.20 and a beta of 0.92. The business has a fifty day moving average price of $16.03 and a two-hundred day moving average price of $15.17. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week 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 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. The business had revenue of $402.55 million during the quarter, compared to analysts' expectations of $391.88 million. As a group, equities analysts predict that Apple Hospitality REIT will post 1.60 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.96 annualized dividend and a dividend yield of 5.9%. Apple Hospitality REIT's dividend payout ratio is 129.73%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APLE. Palouse Capital Management Inc. raised its stake in shares of Apple Hospitality REIT by 21.1% during the second quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust's stock valued at $72,000 after acquiring an additional 750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Apple Hospitality REIT by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust's stock valued at $2,764,000 after purchasing an additional 1,068 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Apple Hospitality REIT by 15.5% during the 2nd quarter. GAMMA Investing LLC now owns 11,552 shares of the real estate investment trust's stock worth $194,000 after buying an additional 1,548 shares during the period. Cetera Investment Advisers grew its holdings in Apple Hospitality REIT by 3.0% in the first quarter. Cetera Investment Advisers now owns 54,066 shares of the real estate investment trust's stock worth $622,000 after purchasing an additional 1,568 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Apple Hospitality REIT by 69.7% in the 2nd quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust's stock valued at $64,000 after buying an additional 1,569 shares during the period. Institutional investors own 89.66% of the company's stock.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc NYSE: APLE is a self-administered real estate investment trust focused on owning and operating upscale, select-service hotels. The company's properties primarily operate under well-known lodging brands affiliated with Marriott International, Hilton Worldwide and Hyatt Hotels Corporation.

Apple Hospitality's portfolio includes hotels serving business and leisure travelers in a range of urban, suburban and destination markets. Its properties are located across the United States, with a focus on geographically diverse markets and hotels that offer amenities such as guest rooms, meeting spaces, fitness facilities, swimming pools and limited food-and-beverage services.

The company was formed in 2007 and became publicly traded in 2015.

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