Apple Hospitality REIT Inc. (NYSE:APLE) traded today at a new 52-week high of $16.14. Approximately 671,000 shares have changed hands today, as compared to an average 30-day volume of 1.9 million shares.
Over the past year, Apple Hospitality REIT Inc. has traded in a range of $8.45 to $16.14 and is now at $15.73, 86% above that low.
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.
Apple Hospitality REIT Inc. (NYSE:APLE) is currently priced 20.8% above its average consensus analyst price target of $12.46.
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