Zacks Investment Research Upgrades Apple Hospitality REIT (APLE) to Hold

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Apple Hospitality REIT (NYSE:APLE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday, September 17th.

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. “

Other equities research analysts have also recently issued reports about the stock. B. Riley upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Wednesday, August 8th. ValuEngine raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $20.25.

Shares of NYSE APLE traded down $0.01 during mid-day trading on Monday, reaching $16.46. The company’s stock had a trading volume of 2,053,368 shares, compared to its average volume of 1,295,314. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 2.02 and a beta of 0.64. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.14. Apple Hospitality REIT has a 1-year low of $16.33 and a 1-year high of $20.19.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, August 6th. The real estate investment trust reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.22). The business had revenue of $344.70 million during the quarter, compared to analyst estimates of $347.27 million. Apple Hospitality REIT had a net margin of 13.55% and a return on equity of 4.80%. Apple Hospitality REIT’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. As a group, equities research analysts expect that Apple Hospitality REIT will post 1.73 EPS for the current year.

In other news, insider Glade M. Knight acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was purchased at an average price of $17.33 per share, with a total value of $86,650.00. Following the completion of the acquisition, the insider now owns 10,098,533 shares of the company’s stock, valued at approximately $175,007,576.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Justin G. Knight acquired 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average cost of $17.65 per share, with a total value of $105,900.00. Following the acquisition, the insider now directly owns 1,109,681 shares of the company’s stock, valued at approximately $19,585,869.65. The disclosure for this purchase can be found here. Insiders purchased 33,657 shares of company stock valued at $588,035 in the last three months. 6.30% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Commonwealth Bank of Australia boosted its stake in Apple Hospitality REIT by 70.2% during the second quarter. Commonwealth Bank of Australia now owns 9,193 shares of the real estate investment trust’s stock worth $164,000 after buying an additional 3,793 shares during the period. Howe & Rusling Inc. purchased a new position in Apple Hospitality REIT during the second quarter worth about $168,000. NumerixS Investment Technologies Inc purchased a new position in Apple Hospitality REIT during the second quarter worth about $169,000. Franklin Resources Inc. purchased a new position in Apple Hospitality REIT during the first quarter worth about $176,000. Finally, US Bancorp DE boosted its stake in Apple Hospitality REIT by 98.9% during the second quarter. US Bancorp DE now owns 9,872 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 4,908 shares during the period. 56.54% of the stock is owned by institutional investors.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.

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