Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states. Concentrated with industry-leading brands, the Company's portfolio consists of 104 Marriott-branded hotels, 126 Hilton-branded hotels, three Hyatt-branded hotels and two independent hotels.
Apple Hospitality REIT Price Performance
NYSE:APLE opened at $16.43 on Wednesday. The company has a 50 day simple moving average of $15.70 and a 200-day simple moving average of $16.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 28.83 and a beta of 1.11. Apple Hospitality REIT has a 52-week low of $14.11 and a 52-week high of $18.69.
Apple Hospitality REIT (NYSE:APLE - Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.16). Apple Hospitality REIT had a net margin of 11.40% and a return on equity of 4.05%. During the same quarter in the prior year, the business posted $0.30 EPS. Equities research analysts predict that Apple Hospitality REIT will post 1.52 earnings per share for the current fiscal year.
Apple Hospitality REIT Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 15th. Investors of record on Tuesday, August 2nd will be given a dividend of $0.05 per share. This represents a $0.60 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Monday, August 1st. Apple Hospitality REIT's payout ratio is presently 105.27%.
Analysts Set New Price Targets
Several research analysts have weighed in on APLE shares. Oppenheimer started coverage on shares of Apple Hospitality REIT in a research note on Thursday, April 21st. They set an "outperform" rating and a $23.00 target price for the company. Barclays cut their target price on shares of Apple Hospitality REIT from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Thursday, July 7th. Finally, B. Riley raised shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and set a $19.00 price objective for the company in a research note on Thursday, June 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $20.33.
Insider Activity at Apple Hospitality REIT
In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the business's stock in a transaction that occurred on Monday, May 16th. The shares were purchased at an average price of $16.22 per share, with a total value of $81,100.00. Following the completion of the transaction, the chairman now owns 488,093 shares in the company, valued at $7,916,868.46. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have acquired 7,342 shares of company stock valued at $117,451. 6.80% of the stock is currently owned by corporate insiders.