Apple Hospitality REIT (NYSE:APLE) Sets New 12-Month Low – Here’s What Happened

Apple Hospitality REIT, Inc. (NYSE:APLE)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $11.86 and last traded at $11.92, with a volume of 1232767 shares trading hands. The stock had previously closed at $12.90.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on APLE. Wells Fargo & Company reduced their price target on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. BMO Capital Markets began coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their target price for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.80.

Apple Hospitality REIT Stock Performance

The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $14.48 and its two-hundred day moving average is $15.04. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 13.71 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $333.04 million for the quarter, compared to the consensus estimate of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. On average, analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.22%. The ex-dividend date is Monday, March 31st. Apple Hospitality REIT’s dividend payout ratio is presently 109.09%.

Institutional Trading of Apple Hospitality REIT

Several hedge funds have recently added to or reduced their stakes in APLE. Centiva Capital LP acquired a new stake in shares of Apple Hospitality REIT during the third quarter worth $1,067,000. Holocene Advisors LP bought a new stake in Apple Hospitality REIT in the 3rd quarter valued at about $4,285,000. HighTower Advisors LLC acquired a new position in shares of Apple Hospitality REIT during the 3rd quarter worth approximately $200,000. Systematic Financial Management LP raised its position in shares of Apple Hospitality REIT by 11.0% in the third quarter. Systematic Financial Management LP now owns 2,099,877 shares of the real estate investment trust’s stock valued at $31,183,000 after buying an additional 207,256 shares in the last quarter. Finally, MML Investors Services LLC boosted its stake in shares of Apple Hospitality REIT by 13.6% in the third quarter. MML Investors Services LLC now owns 71,039 shares of the real estate investment trust’s stock valued at $1,055,000 after buying an additional 8,494 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

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.