Apple Hospitality REIT (NYSE:APLE) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Apple Hospitality REIT (NYSE:APLE) from a hold rating to a sell rating in a research note issued to investors on Thursday.

A number of other equities analysts have also commented on APLE. 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 note on Friday, September 13th. Oppenheimer reiterated an “outperform” rating and set a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus target price of $16.50.

Apple Hospitality REIT Trading Down 0.6 %

APLE stock opened at $15.50 on Thursday. 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 has a 1-year low of $13.60 and a 1-year high of $17.90. The business has a 50 day simple moving average of $15.01 and a two-hundred day simple moving average of $14.66. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 18.24 and a beta of 1.11.

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

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.96 annualized dividend and a yield of 6.19%. Apple Hospitality REIT’s payout ratio is presently 112.94%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in Apple Hospitality REIT in the 2nd quarter worth about $26,000. Quarry LP lifted its stake in shares of Apple Hospitality REIT by 127.5% during the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,290 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Apple Hospitality REIT by 40.4% during 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 grew its position in Apple Hospitality REIT by 115.6% in 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 increased its stake in Apple Hospitality REIT by 4,406.5% in the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 5,420 shares during the period. Institutional investors own 89.66% of the company’s stock.

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.