Apple Hospitality REIT (NYSE:APLE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, December 5th.
According to Zacks, “Apple Hospitality REIT, Inc. is a real estate investment trust. Its portfolio consists of hotels, guest rooms and resorts. The company operates primarily in the United States. Apple Hospitality REIT, Inc. is headquarted in Richmond, VA. “
A number of other equities analysts also recently issued reports on APLE. B. Riley reaffirmed a “neutral” rating on shares of Apple Hospitality REIT in a report on Wednesday, November 1st. Canaccord Genuity reaffirmed a “hold” rating and issued a $19.00 price target (down from $20.00) on shares of Apple Hospitality REIT in a report on Friday, August 11th. BidaskClub cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Finally, Robert W. Baird set a $20.00 price objective on Apple Hospitality REIT and gave the company a “buy” rating in a research note on Sunday, October 29th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $19.67.
Shares of Apple Hospitality REIT (NYSE APLE) traded up $0.12 on Tuesday, reaching $19.85. 2,144,843 shares of the company traded hands, compared to its average volume of 1,223,040. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market cap of $4,426.65, a price-to-earnings ratio of 11.34, a P/E/G ratio of 2.28 and a beta of 0.62. Apple Hospitality REIT has a 12-month low of $17.49 and a 12-month high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a return on equity of 6.46% and a net margin of 18.37%. The business had revenue of $324.90 million during the quarter, compared to the consensus estimate of $324.66 million. During the same period in the previous year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. research analysts anticipate that Apple Hospitality REIT will post 1.74 earnings per share for the current year.
In other Apple Hospitality REIT news, insider Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was purchased at an average price of $19.18 per share, for a total transaction of $95,900.00. Following the completion of the transaction, the insider now owns 10,046,357 shares of the company’s stock, valued at approximately $192,689,127.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.30% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Schroder Investment Management Group acquired a new stake in shares of Apple Hospitality REIT during the second quarter valued at $102,000. Public Employees Retirement Association of Colorado boosted its stake in shares of Apple Hospitality REIT by 26.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 1,393 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Apple Hospitality REIT by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 494 shares during the last quarter. IMS Capital Management acquired a new stake in shares of Apple Hospitality REIT during the second quarter valued at $140,000. Finally, Ffcm LLC boosted its stake in shares of Apple Hospitality REIT by 353.1% during the second quarter. Ffcm LLC now owns 8,374 shares of the real estate investment trust’s stock valued at $159,000 after acquiring an additional 6,526 shares during the last quarter. 50.91% of the stock is currently owned by institutional investors.
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About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of October 23, 2017, the Company owned 238 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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