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

Apple Hospitality REIT, Inc. (NYSE:APLE)’s stock price hit a new 52-week low during trading on Thursday . The company 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 analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Finally, Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.80.

Apple Hospitality REIT Trading Down 1.7 %

The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 13.53 and a beta of 1.12. The business has a 50 day simple moving average of $14.33 and a 200-day simple moving average of $15.00.

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

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 8.35%. Apple Hospitality REIT’s dividend payout ratio is presently 109.09%.

Institutional Investors Weigh In On Apple Hospitality REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Apple Hospitality REIT by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust’s stock worth $70,465,000 after purchasing an additional 133,505 shares during the period. Centiva Capital LP acquired a new stake in shares of Apple Hospitality REIT in the third quarter worth $1,067,000. Barclays PLC increased its position in shares of Apple Hospitality REIT by 118.8% in the third quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust’s stock worth $6,273,000 after acquiring an additional 229,293 shares in the last quarter. KBC Group NV increased its position in shares of Apple Hospitality REIT by 37.8% in the fourth quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock worth $142,000 after acquiring an additional 2,541 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Apple Hospitality REIT during the 4th quarter worth $3,844,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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.