Apple Hospitality REIT, Inc. (NYSE:APLE) Short Interest Update

by · The Markets Daily

Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 11,980,000 shares, a decline of 11.0% from the August 31st total of 13,460,000 shares. Based on an average trading volume of 2,250,000 shares, the short-interest ratio is presently 5.3 days.

Analysts Set New Price Targets

A number of brokerages recently issued reports on APLE. Wells Fargo & Company decreased their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Wedbush started coverage on shares of Apple Hospitality REIT in a report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price target on the stock. Finally, Oppenheimer lowered their price objective on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus price target of $16.25.

Read Our Latest Report on APLE

Apple Hospitality REIT Stock Performance

APLE stock opened at $14.85 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $17.90. The business has a 50-day moving average price of $14.45 and a 200 day moving average price of $14.81. The company has a market capitalization of $3.60 billion, a P/E ratio of 17.26 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE – Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.13). The business had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same period in the previous year, the company posted $0.49 EPS. As a group, equities research analysts forecast that Apple Hospitality REIT will post 1.61 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date is Monday, September 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 111.63%.

Insider Buying and Selling at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the acquisition, the chairman now owns 636,990 shares of the company’s stock, valued at $8,943,339.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of institutional investors have recently added to or reduced their stakes in APLE. Amalgamated Bank boosted its holdings in shares of Apple Hospitality REIT by 1.2% in the 2nd quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock valued at $996,000 after buying an additional 813 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Apple Hospitality REIT by 3.0% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 29,662 shares of the real estate investment trust’s stock valued at $497,000 after acquiring an additional 859 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Apple Hospitality REIT by 1.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock worth $986,000 after purchasing an additional 1,050 shares during the last quarter. United Services Automobile Association grew its holdings in Apple Hospitality REIT by 7.6% in the second quarter. United Services Automobile Association now owns 15,408 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 1,094 shares during the last quarter. Finally, Aurora Investment Counsel increased its position in shares of Apple Hospitality REIT by 4.5% during the first quarter. Aurora Investment Counsel now owns 26,799 shares of the real estate investment trust’s stock worth $439,000 after purchasing an additional 1,156 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

(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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