Fintel reports that on May 8, 2023, B. Riley Securities maintained coverage of Apple Hospitality REIT (NYSE:APLE) with a Buy recommendation.
Analyst Price Forecast Suggests 23.23% Upside
As of April 23, 2023, the average one-year price target for Apple Hospitality REIT is 19.09. The forecasts range from a low of 17.17 to a high of $22.05. The average price target represents an increase of 23.23% from its latest reported closing price of 15.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apple Hospitality REIT is 1,344MM, an increase of 4.24%. The projected annual non-GAAP EPS is 0.90.
Apple Hospitality REIT Declares $0.08 Dividend
On April 18, 2023 the company declared a regular monthly dividend of $0.08 per share ($0.96 annualized). Shareholders of record as of April 28, 2023 will receive the payment on May 15, 2023. Previously, the company paid $0.08 per share.
At the current share price of $15.49 / share, the stock's dividend yield is 6.20%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.80%, the lowest has been 0.24%, and the highest has been 18.75%. The standard deviation of yields is 3.83 (n=208).
The current dividend yield is 0.10 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.38. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.20%.
What is the Fund Sentiment?
There are 670 funds or institutions reporting positions in Apple Hospitality REIT. This is an increase of 31 owner(s) or 4.85% in the last quarter. Average portfolio weight of all funds dedicated to APLE is 0.27%, an increase of 15.07%. Total shares owned by institutions increased in the last three months by 0.87% to 222,271K shares. The put/call ratio of APLE is 0.54, indicating a bullish outlook.
What are Other Shareholders Doing?
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 9,698K shares representing 4.23% ownership of the company. In it's prior filing, the firm reported owning 9,859K shares, representing a decrease of 1.66%. The firm decreased its portfolio allocation in APLE by 6.69% over the last quarter.
T. Rowe Price Investment Management holds 7,893K shares representing 3.45% ownership of the company. In it's prior filing, the firm reported owning 7,827K shares, representing an increase of 0.84%. The firm increased its portfolio allocation in APLE by 8.71% over the last quarter.
Price T Rowe Associates holds 6,336K shares representing 2.77% ownership of the company. In it's prior filing, the firm reported owning 7,665K shares, representing a decrease of 20.98%. The firm decreased its portfolio allocation in APLE by 8.91% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,223K shares representing 2.72% ownership of the company. In it's prior filing, the firm reported owning 6,163K shares, representing an increase of 0.97%. The firm increased its portfolio allocation in APLE by 4.66% over the last quarter.
Jpmorgan Chase holds 5,567K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 5,699K shares, representing a decrease of 2.36%. The firm increased its portfolio allocation in APLE by 0.65% over the last quarter.
Apple Hospitality REIT Background Information
(This description is provided by the company.)
Apple Hospitality REIT, Inc. is a 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 233 hotels with more than 29,800 guest rooms located in 88 markets throughout 35 states. Concentrated with industry-leading brands, the Company's portfolio consists of 104 Marriott-branded hotels, 124 Hilton-branded hotels, three Hyatt-branded hotels and two independent hotels.
This story originally appeared on Fintel.
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