Analysts Set Apple Hospitality REIT, Inc. (NYSE:APLE) Target Price at $16.80

Apple Hospitality REIT, Inc. (NYSE:APLE) has been given a consensus rating of “Moderate Buy” by the four brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $16.50.

Several equities research analysts have weighed in on the stock. Oppenheimer reissued an “outperform” rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They set an “outperform” rating and a $18.00 price target for the company. Wells Fargo & Company dropped their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE opened at $14.54 on Friday. The company’s fifty day moving average price is $15.65 and its 200-day moving average price is $14.96. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 17.11 and a beta of 1.13. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $16.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22). The business had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same period in the prior year, the business posted $0.45 EPS. On average, equities research analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.08 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.60%. Apple Hospitality REIT’s dividend payout ratio is 112.94%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. increased its stake in shares of Apple Hospitality REIT by 11.9% in the 3rd quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock worth $100,059,000 after acquiring an additional 718,844 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Apple Hospitality REIT by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock worth $85,571,000 after acquiring an additional 62,149 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Apple Hospitality REIT by 0.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,243,575 shares of the real estate investment trust’s stock worth $77,867,000 after acquiring an additional 18,858 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Apple Hospitality REIT by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock worth $66,187,000 after acquiring an additional 182,917 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Apple Hospitality REIT by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after acquiring an additional 154,159 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

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.