Short Interest in Apple Hospitality REIT, Inc. (NYSE:APLE) Rises By 12.7%

Apple Hospitality REIT, Inc. (NYSE:APLE) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 8,450,000 shares, a growth of 12.7% from the December 31st total of 7,500,000 shares. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is presently 4.8 days. Approximately 3.8% of the shares of the stock are sold short.

Apple Hospitality REIT Stock Performance

Shares of Apple Hospitality REIT stock traded down $0.11 on Monday, hitting $15.33. The stock had a trading volume of 1,769,075 shares, compared to its average volume of 1,734,699. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 18.04 and a beta of 1.13. Apple Hospitality REIT has a 52-week low of $13.60 and a 52-week high of $16.99. The company’s 50 day moving average price is $15.51 and its 200 day moving average price is $15.06. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last released 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). The firm had revenue of $378.84 million for the quarter, compared to analyst estimates 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 previous year, the company earned $0.45 earnings per share. On average, research analysts anticipate that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be issued a $0.08 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.26%. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BMO Capital Markets began coverage on Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 target price for the company. Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Oppenheimer reissued an “outperform” rating and set a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings 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 purchasing an additional 780 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of Apple Hospitality REIT by 6.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust’s stock valued at $241,000 after purchasing an additional 921 shares in the last quarter. Ellis Investment Partners LLC lifted its stake in Apple Hospitality REIT by 4.6% in the 3rd quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust’s stock valued at $318,000 after acquiring an additional 948 shares in the last quarter. Inspire Advisors LLC increased its position in shares of Apple Hospitality REIT by 8.2% during the 3rd quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Apple Hospitality REIT by 0.7% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 169,222 shares of the real estate investment trust’s stock worth $2,513,000 after acquiring an additional 1,105 shares during the last quarter. Institutional investors and hedge funds 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.