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

Apple Hospitality REIT, Inc. (NYSE:APLE) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $12.96 and last traded at $12.99, with a volume of 589790 shares. The stock had previously closed at $13.19.

Analyst Ratings Changes

A number of equities research analysts have weighed in on APLE shares. Wells Fargo & Company lowered their price objective on 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. Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price target for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Finally, BMO Capital Markets initiated coverage on Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Moderate Buy” and a consensus price target of $16.80.

Apple Hospitality REIT Trading Down 1.5 %

The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 15.28 and a beta of 1.12. The business has a fifty day moving average of $14.70 and a two-hundred day moving average of $15.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04.

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, beating analysts’ consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $333.04 million during the quarter, compared to analysts’ expectations of $330.11 million. As a group, equities analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 7.39%. The ex-dividend date is Monday, March 31st. Apple Hospitality REIT’s payout ratio is currently 109.09%.

Institutional Trading of Apple Hospitality REIT

Several large investors have recently modified their holdings of APLE. Price T Rowe Associates Inc. MD lifted its stake in Apple Hospitality REIT by 27.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust’s stock valued at $126,472,000 after buying an additional 1,761,996 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Apple Hospitality REIT by 0.4% in the fourth quarter. Victory Capital Management Inc. now owns 6,767,740 shares of the real estate investment trust’s stock valued at $103,885,000 after acquiring an additional 29,781 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Apple Hospitality REIT by 1.1% during the third quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock valued at $85,571,000 after acquiring an additional 62,149 shares during the last quarter. JPMorgan Chase & Co. increased its position in Apple Hospitality REIT by 0.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,243,575 shares of the real estate investment trust’s stock worth $77,867,000 after purchasing an additional 18,858 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Apple Hospitality REIT by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust’s stock valued at $70,465,000 after purchasing an additional 133,505 shares during the last quarter. 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.