Apple Hospitality REIT Inc (APLE) Receives $19.75 Consensus Target Price from Analysts

Apple Hospitality REIT Inc (NYSE:APLE) has earned an average recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $19.75.

APLE has been the subject of several research reports. B. Riley set a $20.00 price target on shares of Apple Hospitality REIT and gave the stock a “hold” rating in a report on Friday, February 23rd. Robert W. Baird set a $20.00 price target on shares of Apple Hospitality REIT and gave the stock a “buy” rating in a report on Monday, February 26th. Barclays restated an “equal weight” rating and set a $20.00 price target (down from $21.00) on shares of Apple Hospitality REIT in a report on Tuesday, February 27th. Zacks Investment Research cut shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Finally, ValuEngine cut shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a report on Monday, April 2nd.

In other Apple Hospitality REIT news, insider Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction on Monday, May 14th. The stock was purchased at an average cost of $18.52 per share, for a total transaction of $92,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Apple Hospitality REIT by 5.6% in the first quarter. BlackRock Inc. now owns 15,903,158 shares of the real estate investment trust’s stock valued at $279,421,000 after purchasing an additional 844,013 shares during the period. Northern Trust Corp raised its position in shares of Apple Hospitality REIT by 71.8% in the first quarter. Northern Trust Corp now owns 4,254,934 shares of the real estate investment trust’s stock valued at $74,759,000 after purchasing an additional 1,778,458 shares during the period. Long Pond Capital LP bought a new position in shares of Apple Hospitality REIT in the first quarter valued at approximately $64,798,000. Prudential Financial Inc. raised its position in shares of Apple Hospitality REIT by 160.8% in the first quarter. Prudential Financial Inc. now owns 3,307,448 shares of the real estate investment trust’s stock valued at $58,112,000 after purchasing an additional 2,039,311 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Apple Hospitality REIT by 73.9% in the first quarter. Wells Fargo & Company MN now owns 3,294,716 shares of the real estate investment trust’s stock valued at $57,889,000 after purchasing an additional 1,400,124 shares during the period. Hedge funds and other institutional investors own 55.98% of the company’s stock.

Shares of Apple Hospitality REIT traded up $0.13, hitting $18.70, during midday trading on Monday, according to Marketbeat Ratings. The stock had a trading volume of 13,496 shares, compared to its average volume of 1,404,039. Apple Hospitality REIT has a fifty-two week low of $16.72 and a fifty-two week high of $20.19. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 2.15 and a beta of 0.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.06 and a quick ratio of 0.06.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.21). The firm had revenue of $298.40 million during the quarter, compared to analyst estimates of $299.89 million. Apple Hospitality REIT had a return on equity of 5.38% and a net margin of 15.30%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 earnings per share. analysts anticipate that Apple Hospitality REIT will post 1.75 earnings per share for the current year.

The business also recently declared a monthly dividend, which will be paid on Monday, June 18th. Investors of record on Monday, June 4th will be issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.42%. The ex-dividend date is Friday, June 1st. Apple Hospitality REIT’s dividend payout ratio is currently 68.97%.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states.

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