Apple Hospitality REIT Inc (NYSE:APLE) finished Thursday with an addition of $0.17 to close at $15.49, an upside of 1.11 percent. An average of 2,085,400 shares of common stock have been traded in the last five days. There was a fall of -$0.18 in the past week, and it reached a new high 23 times over the past 12 months. The last 20 days have seen an average of 4,881,045 shares traded, while the 50-day average volume stands at 2,767,564.
APLE stock has increased by 1.57% in the last month. The company shares reached their 1-month lowest point of $14.82 on 08/29/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $13.66 and a high of $18.22 in 52 weeks. It has reached a new high 12 times so far this year and lost -1.84% or -$0.29 in price. In spite of this, the price is down -14.98% from the 52-week high.
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Valuation Metrics
Apple Hospitality REIT Inc (APLE) has a trailing price-to-earnings (P/E) ratio of 22.22. The stock’s beta is 1.16. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.70, the price-to-book (PB) ratio at 1.12, and the price-to-cash flow ratio at 11.17.
Financial Health
Further, the company has a long term debt to equity ratio of 0.46 and a total debt to equity ratio of 0.48 for the quarter ending June 29. Its gross profit as reported stood at $206.48 million compared to revenue of $1.24 billion.
Earnings Surprise
For the three-month period that ended June 29, Apple Hospitality REIT Inc had $1.4 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $65.29 million in the quarter, while revenues of $32.92 million were shrunk -0.09%. The analyst consensus anticipated Apple Hospitality REIT Inc’s latest quarter earnings to come in at $0.22 per share, but it turned out to be $0.29, a 31.80% surprise. For the quarter, EBITDA amounted to $129.02 million. At the end of the quarter ending June 29, Apple Hospitality REIT Inc’s stock balance sheet showed total debt was $1.51 billion. Shareholders own equity worth $228.8 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Apple Hospitality REIT Inc (APLE) price momentum. RSI 9-day as of the close on 28 September was 46.93%, suggesting the stock is Neutral, with historical volatility in this time frame at 16.24%.
As of today, APLE’s price is $15.41 -1.15% or -$0.18 from its 5-day moving average. However, the stock’s current price level is +0.06% above the SMA50 and -7.85% below the SMA200.
The stochastic %K and %D were 12.41% and 11.09%, respectively, and the average true range (ATR) was 0.35. With the 14-day stochastic at 27.50% and the average true range at 0.35, the RSI (14) stands at 49.48%. The stock has reached -0.27 on the 9-day MACD Oscillator while the 14-day reading was at -0.41.
Analyst Ratings
Wolfe Research launched coverage on Apple Hospitality REIT Inc (NYSE: APLE) in its analyst report released on September 28, 2023. The firm assigned the stock a Peer perform rating. The consensus rating for Apple Hospitality REIT Inc (APLE) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell APLE, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 4 others rate it as a “buy”.
What is APLE’s price target for the next 12 months?
Analysts predict a range of price targets between $17.00 and $20.00, with a median target of $18.00. Taking a look at these predictions, the average price target given by analysts for Apple Hospitality REIT Inc (APLE) stock is $18.43.
