Apple Hospitality REIT (APLE) Now Covered by Analysts at KeyCorp

KeyCorp began coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research report released on Friday morning, MarketBeat Ratings reports. The firm issued a sector weight rating on the real estate investment trust’s stock.

Other analysts have also issued research reports about the company. TheStreet upgraded Apple Hospitality REIT from a c rating to a b- rating in a report on Friday, December 8th. Robert W. Baird restated a buy rating and issued a $21.00 price objective on shares of Apple Hospitality REIT in a report on Friday. Zacks Investment Research upgraded Apple Hospitality REIT from a sell rating to a hold rating in a report on Tuesday, December 5th. BidaskClub upgraded Apple Hospitality REIT from a sell rating to a hold rating in a report on Friday, November 10th. Finally, B. Riley restated a neutral rating on shares of Apple Hospitality REIT in a report on Wednesday, November 1st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Apple Hospitality REIT has a consensus rating of Hold and a consensus price target of $20.50.

Shares of Apple Hospitality REIT (APLE) traded down $0.12 during trading on Friday, hitting $19.55. The stock had a trading volume of 990,203 shares, compared to its average volume of 1,320,000. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $4,360.00 and a price-to-earnings ratio of 19.36. Apple Hospitality REIT has a twelve month low of $17.49 and a twelve month high of $20.68.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The business had revenue of $324.90 million during the quarter, compared to analyst estimates of $324.66 million. Apple Hospitality REIT had a return on equity of 6.46% and a net margin of 18.37%. The company’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. equities research analysts expect that Apple Hospitality REIT will post 1.74 EPS for the current year.

The business also recently announced a monthly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Wednesday, January 3rd will be given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date is Tuesday, January 2nd. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 118.81%.

In related news, insider Glade M. Knight bought 5,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were bought at an average cost of $19.18 per share, with a total value of $95,900.00. Following the completion of the transaction, the insider now directly owns 10,046,357 shares of the company’s stock, valued at $192,689,127.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.30% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group acquired a new stake in shares of Apple Hospitality REIT during the second quarter worth $102,000. The Manufacturers Life Insurance Company raised its position in shares of Apple Hospitality REIT by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 494 shares during the period. Pacad Investment Ltd. raised its position in shares of Apple Hospitality REIT by 319.0% during the second quarter. Pacad Investment Ltd. now owns 8,800 shares of the real estate investment trust’s stock worth $165,000 after purchasing an additional 6,700 shares during the period. Parametrica Management Ltd acquired a new stake in shares of Apple Hospitality REIT during the third quarter worth $204,000. Finally, Advisor Group Inc. raised its position in shares of Apple Hospitality REIT by 18.2% during the second quarter. Advisor Group Inc. now owns 11,040 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 1,698 shares during the period. 50.91% of the stock is currently owned by institutional investors.

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About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.

Analyst Recommendations for Apple Hospitality REIT (NYSE:APLE)

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