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Apple Hospitality REIT Inc. (NYSE:APLE) Is Currently -12.54% Below Its 52-Week High, But Downside Potential Could Surprise You.

In last trading session, Apple Hospitality REIT Inc. (NYSE:APLE) saw 42.32 million shares changing hands with its beta currently measuring 1.18. Company’s recent per share price level of $16.19 trading at $0.32 or 2.02% at ring of the bell on the day assigns it a market valuation of $3.68B. That closing price of APLE’s stock is at a discount of -12.54% from its 52-week high price of $18.22 and is indicating a premium of 15.63% from its 52-week low price of $13.66. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.49 million shares which gives us an average trading volume of 1.71 million if we extend that period to 3-months.

For Apple Hospitality REIT Inc. (APLE), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 1.90. Splitting up the data highlights that, out of 8 analysts covering the stock, 0 rated the stock as a Sell while 2 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 4 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.24 in the current quarter.

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Apple Hospitality REIT Inc. (NYSE:APLE) trade information

Upright in the green during last session for gaining 2.02%, in the last five days APLE remained trading in the green while hitting it’s week-highest on Friday, 09/15/23 when the stock touched $16.19 price level, adding 1.04% to its value on the day. Apple Hospitality REIT Inc.’s shares saw a change of 2.60% in year-to-date performance and have moved 0.25% in past 5-day. Apple Hospitality REIT Inc. (NYSE:APLE) showed a performance of 9.84% in past 30-days. Number of shares sold short was 4.38 million shares which calculate 3.25 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $18.43 to the stock, which implies a rise of 12.15% to its current value. Analysts have been projecting $17.00 as a low price target for the stock while placing it at a high target of $20.00. It follows that stock’s current price would drop -23.53% in reaching the projected high whereas dropping to the targeted low would mean a loss of -5.0% for stock’s current value.

Apple Hospitality REIT Inc. (APLE) estimates and forecasts

Statistics highlight that Apple Hospitality REIT Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 6.58% of value to its shares in past 6 months, showing an annual growth rate of 4.58% while that of industry is -6.30. Apart from that, the company came raising its revenue forecast for fiscal year 2023. This year revenue growth is estimated to rise 7.60% from the last financial year’s standing.

6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $353.19 million for the same. And 6 analysts are in estimates of company making revenue of $306.7 million in the next quarter that will end on Dec 2023. Company posted $331.06 million and $299.12 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 6.70% while estimating it to be 2.50% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -5.00% during past 5 years.

APLE Dividends

Apple Hospitality REIT Inc. is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Apple Hospitality REIT Inc. (NYSE:APLE)’s Major holders

Insiders are in possession of 6.92% of company’s total shares while institution are holding 83.88 percent of that, with stock having share float percentage of 90.11%. Investors also watch the number of corporate investors in a company very closely, which is 83.88% institutions for Apple Hospitality REIT Inc. that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at APLE for having 32.89 million shares of worth $497.02 million. And as of Jun 29, 2023, it was holding 14.38% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 22.09 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 9.65% of outstanding shares, having a total worth of $333.79 million.

On the other hand, Vanguard Specialized-Real Estate Index Fund and Capitol Ser Tr-Fuller & Thaler Behavioral Small Cap Equity Fd are the top two Mutual Funds which own company’s shares. As of Apr 29, 2023, the former fund manager was holding 9.55 million shares of worth $142.2 million or 4.17% of the total outstanding shares. The later fund manager was in possession of 6.81 million shares on Jun 29, 2023, making its stake of worth around $102.91 million in the company or a holder of 2.98% of company’s stock.

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