Apple Hospitality REIT (NYSE:APLE) Receives “Outperform” Rating from Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Apple Hospitality REIT (NYSE:APLE) in a report published on Friday morning,Benzinga reports. Oppenheimer currently has a $18.00 target price on the real estate investment trust’s stock, up from their prior target price of $17.00.

A number of other equities analysts also recently issued reports on APLE. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company lowered their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus target price of $16.50.

Apple Hospitality REIT Trading Up 2.0 %

Shares of APLE traded up $0.32 during mid-day trading on Friday, reaching $15.93. 2,359,797 shares of the company were exchanged, compared to its average volume of 2,065,496. Apple Hospitality REIT has a 52 week low of $13.60 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $3.82 billion, a PE ratio of 18.74 and a beta of 1.11. The business has a 50 day simple moving average of $14.84 and a two-hundred day simple moving average of $14.64.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.16% and a net margin of 14.53%. The company had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. During the same quarter last year, the business earned $0.45 earnings per share. On average, analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.03%. Apple Hospitality REIT’s payout ratio is currently 112.94%.

Institutional Investors Weigh In On Apple Hospitality REIT

Several hedge funds and other institutional investors have recently modified their holdings of the company. EdgeRock Capital LLC purchased a new position in shares of Apple Hospitality REIT during the second quarter valued at approximately $26,000. Quarry LP boosted its position in Apple Hospitality REIT by 127.5% in the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,290 shares during the last quarter. GAMMA Investing LLC increased its holdings in Apple Hospitality REIT by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 780 shares during the last quarter. Covestor Ltd boosted its position in shares of Apple Hospitality REIT by 115.6% during the 1st quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 2,313 shares during the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of Apple Hospitality REIT by 4,406.5% during the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 5,420 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

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 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.