Apple Hospitality REIT, Inc. (NYSE:APLE) Sees Significant Drop in Short Interest

Apple Hospitality REIT, Inc. (NYSE:APLE) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 9,660,000 shares, a decline of 7.8% from the May 31st total of 10,480,000 shares. Based on an average daily volume of 2,060,000 shares, the days-to-cover ratio is currently 4.7 days.

Apple Hospitality REIT Stock Performance

Shares of NYSE APLE traded down $0.07 during midday trading on Wednesday, reaching $14.21. 658,544 shares of the stock were exchanged, compared to its average volume of 2,067,334. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.48. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 16.65 and a beta of 1.11. The firm has a 50-day simple moving average of $14.58 and a two-hundred day simple moving average of $15.70. Apple Hospitality REIT has a twelve month low of $13.96 and a twelve month high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). The firm had revenue of $329.51 million for the quarter, compared to analyst estimates of $324.68 million. Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. During the same quarter in the prior year, the business posted $0.34 EPS. As a group, analysts anticipate that Apple Hospitality REIT will post 1.4 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a yield of 6.76%. Apple Hospitality REIT’s payout ratio is 111.63%.

Insider Activity

In other news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average cost of $14.78 per share, for a total transaction of $73,900.00. Following the completion of the acquisition, the chairman now directly owns 631,990 shares of the company’s stock, valued at approximately $9,340,812.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Securities Inc. acquired a new position in shares of Apple Hospitality REIT in the 4th quarter valued at $26,000. EdgeRock Capital LLC purchased a new position in Apple Hospitality REIT during the fourth quarter worth about $27,000. YHB Investment Advisors Inc. acquired a new stake in shares of Apple Hospitality REIT during the first quarter valued at about $37,000. GAMMA Investing LLC purchased a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at approximately $41,000. Finally, Fortis Group Advisors LLC raised its stake in shares of Apple Hospitality REIT by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 1,493 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on APLE shares. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Wedbush assumed coverage on shares of Apple Hospitality REIT in a report on Monday, June 3rd. They set a “neutral” rating and a $15.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.83.

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.