Shares of Apple Hospitality REIT Inc. (NYSE:APLE) traded today at $18.65, eclipsing its 52-week high. Approximately 1.1 million shares have changed hands today, as compared to an average 30-day volume of 2.3 million shares.
In the past 52 weeks, shares of Apple Hospitality REIT Inc. have traded between a low of $13.83 and a high of $18.65 and is now at $18.54, which is 34% above that low price.
Apple Hospitality REIT Inc. (NYSE:APLE) is currently priced 2.6% above its average consensus analyst price target of $18.06.
Apple Hospitality REIT Inc is a real estate investment trust that invests in income-producing real estate, primarily in the lodging sector, in the United States. It chiefly invests in upscale service hotels. All of the company’s hotels operate under the Marriott or Hilton brands. Apple Hospitality has wholly-owned taxable REIT subsidiaries, which lease all of the company’s hotels from wholly-owned qualified REIT subsidiaries. These hotels are managed under separate agreements with various hotel management companies that are unaffiliated with Apple Hospitality. The company derives its income from hotel revenue, its sole segment.
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