Short Interest in Apple Hospitality REIT, Inc. (NYSE:APLE) Rises By 6.8%

Apple Hospitality REIT, Inc. (NYSE:APLE) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 10,690,000 shares, an increase of 6.8% from the October 15th total of 10,010,000 shares. Based on an average daily trading volume, of 1,960,000 shares, the short-interest ratio is currently 5.5 days.

Apple Hospitality REIT Trading Down 0.8 %

NYSE:APLE traded down $0.13 during mid-day trading on Tuesday, reaching $15.39. 151,067 shares of the company’s stock traded hands, compared to its average volume of 2,046,388. Apple Hospitality REIT has a 12-month low of $13.60 and a 12-month high of $17.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The company has a 50 day moving average price of $15.04 and a 200-day moving average price of $14.66. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 18.26 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The business had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same quarter in the prior year, the company earned $0.45 EPS. On average, sell-side analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date of this dividend was Thursday, October 31st. Apple Hospitality REIT’s payout ratio is 112.94%.

Hedge Funds Weigh In On Apple Hospitality REIT

Several hedge funds and other institutional investors have recently modified their holdings of APLE. Vanguard Group Inc. boosted its position in Apple Hospitality REIT by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after acquiring an additional 1,217,142 shares in the last quarter. Masterton Capital Management LP bought a new stake in shares of Apple Hospitality REIT during the second quarter valued at approximately $3,378,000. Entropy Technologies LP purchased a new stake in Apple Hospitality REIT in the first quarter worth $338,000. Dimensional Fund Advisors LP raised its holdings in Apple Hospitality REIT by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after purchasing an additional 154,159 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in Apple Hospitality REIT by 14.9% during the third quarter. Sound Income Strategies LLC now owns 818,601 shares of the real estate investment trust’s stock valued at $12,156,000 after buying an additional 105,993 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on APLE shares. StockNews.com cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Oppenheimer restated an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, Wells Fargo & Company lowered their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.50.

Apple Hospitality REIT Company Profile

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.