Apple Hospitality REIT, Inc. (NYSE:APLE) Short Interest Up 16.4% in July

Apple Hospitality REIT, Inc. (NYSE:APLE) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 14,160,000 shares, an increase of 16.4% from the July 15th total of 12,160,000 shares. Based on an average daily volume of 2,410,000 shares, the days-to-cover ratio is presently 5.9 days.

Apple Hospitality REIT Price Performance

Shares of Apple Hospitality REIT stock traded down $0.03 during trading on Friday, reaching $14.26. 2,159,750 shares of the stock traded hands, compared to its average volume of 2,117,897. 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 0.48, a current ratio of 0.79 and a quick ratio of 0.79. The business has a fifty day simple moving average of $14.46 and a two-hundred day simple moving average of $15.21. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 16.58 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). The business had revenue of $390.08 million for the quarter, compared to analysts’ expectations of $388.82 million. Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. During the same period in the previous year, the company earned $0.49 EPS. Sell-side analysts expect that Apple Hospitality REIT will post 1.4 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.73%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 111.63%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on APLE shares. Oppenheimer dropped their target price on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, August 12th. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Wedbush initiated coverage on Apple Hospitality REIT in a report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.00.

Insider Buying and Selling

In related news, Chairman Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the purchase, the chairman now owns 636,990 shares in the company, valued at approximately $8,943,339.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of institutional investors and hedge funds have recently modified their holdings of APLE. Principal Securities Inc. purchased a new stake in Apple Hospitality REIT during the 4th quarter valued at $26,000. EdgeRock Capital LLC bought a new stake in shares of Apple Hospitality REIT in the 2nd quarter worth about $26,000. Quarry LP boosted 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 purchasing an additional 1,290 shares during the period. YHB Investment Advisors Inc. purchased a new position in shares of Apple Hospitality REIT during the 1st quarter worth about $37,000. Finally, GAMMA Investing LLC bought a new position in Apple Hospitality REIT during the 4th quarter valued at about $41,000. Hedge funds and other 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.