Apple Hospitality REIT (NYSE:APLE) Hits New 1-Year Low – Should You Sell?

by · The Cerbat Gem

Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.44 and last traded at $10.77, with a volume of 1606621 shares changing hands. The stock had previously closed at $10.66.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. 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 research note 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.80.

Get Our Latest Report on Apple Hospitality REIT

Apple Hospitality REIT Price Performance

The firm has a 50-day simple moving average of $13.76 and a 200-day simple moving average of $14.82. The firm has a market capitalization of $2.75 billion, a PE ratio of 13.50 and a beta of 1.00. 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 (NYSE:APLE – Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $333.04 million for the quarter, compared to the consensus estimate of $330.11 million. As a group, equities analysts forecast 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 $0.08 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 8.37%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 109.09%.

Hedge Funds Weigh In On Apple Hospitality REIT

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of Apple Hospitality REIT by 1,133.9% in the first quarter. GAMMA Investing LLC now owns 60,522 shares of the real estate investment trust’s stock worth $7,810,000 after buying an additional 55,617 shares during the period. Versant Capital Management Inc raised its stake in Apple Hospitality REIT by 569.5% during the 1st quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 2,386 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Apple Hospitality REIT during the 4th quarter worth approximately $255,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Apple Hospitality REIT during the fourth quarter valued at approximately $4,293,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of Apple Hospitality REIT in the fourth quarter worth approximately $64,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

About Apple Hospitality REIT

(Get Free Report)

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.

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