Apple Hospitality REIT, Inc. (NYSE:APLE) Short Interest Update

Apple Hospitality REIT, Inc. (NYSE:APLE) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 9,660,000 shares, a decline of 7.8% from the May 31st total of 10,480,000 shares. Based on an average daily trading volume, of 2,060,000 shares, the days-to-cover ratio is currently 4.7 days.

Apple Hospitality REIT Price Performance

Shares of Apple Hospitality REIT stock traded down $0.07 during trading hours on Wednesday, reaching $14.21. 658,557 shares of the company’s stock were exchanged, compared to its average volume of 2,067,334. The business has a fifty day moving average of $14.58 and a two-hundred day moving average of $15.70. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $3.44 billion, a P/E ratio of 16.65 and a beta of 1.11. Apple Hospitality REIT has a 1 year low of $13.96 and a 1 year high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). The company had revenue of $329.51 million during the quarter, compared to analyst estimates of $324.68 million. Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. During the same period in the prior year, the business posted $0.34 EPS. As a group, research analysts predict that Apple Hospitality REIT will post 1.4 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.96 annualized dividend and a yield of 6.76%. Apple Hospitality REIT’s payout ratio is 111.63%.

Insider Activity

In other news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of $14.78 per share, for a total transaction of $73,900.00. Following the completion of the transaction, the chairman now owns 631,990 shares in the company, valued at $9,340,812.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APLE. Blue Trust Inc. lifted its holdings in shares of Apple Hospitality REIT by 11.9% in the 4th quarter. Blue Trust Inc. now owns 6,927 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 734 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Apple Hospitality REIT by 3.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 29,662 shares of the real estate investment trust’s stock worth $497,000 after purchasing an additional 859 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Apple Hospitality REIT by 1.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock worth $986,000 after purchasing an additional 1,050 shares in the last quarter. CIC Wealth LLC boosted its position in shares of Apple Hospitality REIT by 7.0% during the fourth quarter. CIC Wealth LLC now owns 16,730 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 1,100 shares during the period. Finally, Aurora Investment Counsel raised its holdings in shares of Apple Hospitality REIT by 4.5% in the 1st quarter. Aurora Investment Counsel now owns 26,799 shares of the real estate investment trust’s stock valued at $439,000 after buying an additional 1,156 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Wedbush began coverage on shares of Apple Hospitality REIT in a report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Apple Hospitality REIT has an average rating of “Hold” and a consensus target price of $17.83.

About Apple Hospitality REIT

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 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.