Short Interest in Apple Hospitality REIT, Inc. (NYSE:APLE) Expands By 6.8%

Apple Hospitality REIT, Inc. (NYSE:APLE) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 10,690,000 shares, a growth of 6.8% from the October 15th total of 10,010,000 shares. Based on an average daily trading volume, of 1,960,000 shares, the short-interest ratio is presently 5.5 days.

Apple Hospitality REIT Trading Down 0.7 %

Shares of NYSE:APLE traded down $0.11 during midday trading on Tuesday, reaching $15.41. The company’s stock had a trading volume of 380,303 shares, compared to its average volume of 2,047,610. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 18.26 and a beta of 1.11. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $17.90. The business has a 50 day moving average price of $15.04 and a 200 day moving average price of $14.66.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $378.84 million during the quarter, compared to analysts’ expectations of $377.56 million. During the same period in the prior year, the firm earned $0.45 EPS. Research analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.23%. The ex-dividend date of this dividend was Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. 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. Finally, Wells Fargo & Company dropped their price target on 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of Apple Hospitality REIT by 40.4% in the third 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 in the last quarter. Amalgamated Bank lifted its stake in shares of Apple Hospitality REIT by 1.2% in the second quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock worth $996,000 after acquiring an additional 813 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of Apple Hospitality REIT by 6.0% in the third quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust’s stock worth $241,000 after acquiring an additional 921 shares in the last quarter. Ellis Investment Partners LLC lifted its stake in shares of Apple Hospitality REIT by 4.6% in the third quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust’s stock worth $318,000 after acquiring an additional 948 shares in the last quarter. Finally, Inspire Advisors LLC lifted its stake in shares of Apple Hospitality REIT by 8.2% in the third quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 1,008 shares in the last quarter. Institutional investors and hedge funds 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.