B. Riley Lowers Apple Hospitality REIT (NYSE:APLE) Price Target to $12.00

Apple Hospitality REIT (NYSE:APLE) had its price objective decreased by B. Riley from $16.00 to $12.00 in a research report released on Monday, BenzingaRatingsTable reports. B. Riley currently has a buy rating on the real estate investment trust’s stock. B. Riley also issued estimates for Apple Hospitality REIT’s Q1 2020 earnings at $0.32 EPS, Q2 2020 earnings at $0.18 EPS, Q3 2020 earnings at $0.33 EPS, Q4 2020 earnings at $0.28 EPS, FY2020 earnings at $1.11 EPS, Q1 2021 earnings at $0.33 EPS, Q2 2021 earnings at $0.40 EPS, Q3 2021 earnings at $0.40 EPS, Q4 2021 earnings at $0.30 EPS, FY2021 earnings at $1.43 EPS and FY2022 earnings at $1.47 EPS.

A number of other research firms have also weighed in on APLE. Janney Montgomery Scott initiated coverage on shares of Apple Hospitality REIT in a research note on Monday, December 16th. They set a buy rating and a $18.00 price objective for the company. Capital One Financial upgraded shares of Apple Hospitality REIT from an equal weight rating to an overweight rating and reduced their price objective for the company from $17.00 to $14.00 in a research note on Monday, March 9th. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a sell rating to a hold rating in a research note on Thursday, March 12th. ValuEngine lowered shares of Apple Hospitality REIT from a hold rating to a sell rating in a research note on Tuesday, March 3rd. Finally, Barclays lowered shares of Apple Hospitality REIT from an overweight rating to an equal weight rating and set a $10.00 price objective for the company. in a research note on Tuesday, March 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $14.40.

NYSE:APLE traded up $0.31 on Monday, reaching $9.57. 8,239,469 shares of the stock traded hands, compared to its average volume of 3,208,390. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 12.43 and a beta of 0.86. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. Apple Hospitality REIT has a 12 month low of $4.48 and a 12 month high of $16.88. The company’s fifty day simple moving average is $12.11 and its 200 day simple moving average is $15.09.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.22). The firm had revenue of $289.97 million for the quarter, compared to the consensus estimate of $288.45 million. Apple Hospitality REIT had a net margin of 13.57% and a return on equity of 5.16%. Equities analysts anticipate that Apple Hospitality REIT will post 1.54 EPS for the current fiscal year.

The business also recently declared a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, March 4th were paid a $0.10 dividend. The ex-dividend date was Tuesday, March 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.54%. Apple Hospitality REIT’s dividend payout ratio is presently 73.62%.

In related news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average cost of $11.90 per share, for a total transaction of $59,500.00. Following the completion of the purchase, the chairman now directly owns 10,211,968 shares of the company’s stock, valued at approximately $121,522,419.20. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Highstreet Asset Management Inc. bought a new stake in shares of Apple Hospitality REIT in the fourth quarter worth approximately $317,000. Charles Schwab Investment Management Inc. grew its stake in shares of Apple Hospitality REIT by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,527,144 shares of the real estate investment trust’s stock worth $57,317,000 after acquiring an additional 130,811 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Apple Hospitality REIT by 57.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 36,371 shares of the real estate investment trust’s stock worth $591,000 after acquiring an additional 13,306 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Apple Hospitality REIT in the fourth quarter worth approximately $394,000. Finally, State of Alaska Department of Revenue grew its stake in shares of Apple Hospitality REIT by 70.9% in the fourth quarter. State of Alaska Department of Revenue now owns 102,800 shares of the real estate investment trust’s stock worth $1,670,000 after acquiring an additional 42,648 shares during the period. Hedge funds and other institutional investors own 62.08% of the company’s stock.

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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.

Featured Article: Trading Options- What is a Strangle?

Receive News & Ratings for Apple Hospitality REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Hospitality REIT and related companies with MarketBeat.com's FREE daily email newsletter.