Apple Hospitality REIT (NYSE:APLE) Price Target Raised to $22.00

by · The Markets Daily

Apple Hospitality REIT (NYSE:APLE – Free Report) had its price target upped by Cantor Fitzgerald from $18.00 to $22.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

APLE has been the topic of several other research reports. Ladenburg Thalmann & Co. Inc. raised their target price on shares of Apple Hospitality REIT from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday. Barclays boosted their price target on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 13th. Compass Point raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their price target for the stock from $17.50 to $18.50 in a research note on Friday, August 7th. Wells Fargo & Company increased their price objective on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, October 26th. Finally, Bank of America increased their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.19.

Read Our Latest Stock Report on APLE

Apple Hospitality REIT Price Performance

Shares of APLE opened at $19.48 on Tuesday. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 2.09 and a beta of 0.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.81. Apple Hospitality REIT has a one year low of $11.31 and a one year high of $20.25. The stock’s fifty day moving average is $17.02 and its 200-day moving average is $14.95.

Apple Hospitality REIT (NYSE:APLE – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The business had revenue of $398.33 million for the quarter, compared to analysts’ expectations of $384.64 million. Apple Hospitality REIT had a net margin of 12.62% and a return on equity of 5.88%. Equities analysts anticipate that Apple Hospitality REIT will post 1.63 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.96 annualized dividend and a yield of 4.9%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 121.52%.

Institutional Investors Weigh In On Apple Hospitality REIT

Hedge funds and other institutional investors have recently bought and sold shares of the business. BOKF NA lifted its holdings in Apple Hospitality REIT by 3.6% in the 3rd quarter. BOKF NA now owns 20,073 shares of the real estate investment trust’s stock valued at $324,000 after acquiring an additional 690 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Apple Hospitality REIT by 2.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 29,440 shares of the real estate investment trust’s stock worth $476,000 after purchasing an additional 726 shares during the last quarter. Palouse Capital Management Inc. grew its stake in shares of Apple Hospitality REIT by 21.1% in the 2nd quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 750 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Apple Hospitality REIT by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock worth $2,764,000 after purchasing an additional 1,068 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Apple Hospitality REIT by 15.5% in the 2nd quarter. GAMMA Investing LLC now owns 11,552 shares of the real estate investment trust’s stock worth $194,000 after purchasing an additional 1,548 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Company Profile

(Get Free Report)

Apple Hospitality REIT, Inc. is a real estate investment trust that owns a portfolio of hotels in the United States. Its properties primarily serve business and leisure travelers and operate in the upscale segment, including select-service and extended-stay formats. The company’s hotels are affiliated with well-known hospitality brands, including Marriott, Hilton and Hyatt. Apple Hospitality REIT owns the real estate and works with hotel operators to manage day-to-day operations. Formed in 2007, the company is headquartered in Richmond, Virginia.

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