Apple Hospitality REIT (NYSE:APLE) Upgraded to Hold at Wells Fargo & Company

Apple Hospitality REIT (NYSE:APLE) was upgraded by equities research analysts at Wells Fargo & Company to a “hold” rating in a report released on Thursday,Zacks.com reports.

APLE has been the topic of several other reports. Cantor Fitzgerald boosted their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday. Zacks Research upgraded Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. BMO Capital Markets boosted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, June 12th. Finally, Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.00.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $16.78 on Thursday. The company has a market cap of $3.96 billion, a P/E ratio of 22.98, a P/E/G ratio of 3.25 and a beta of 0.87. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $17.13. The company’s 50-day moving average price is $16.00 and its 200-day moving average price is $13.65. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The company had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. On average, sell-side analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the acquisition, the chairman directly owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. This represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APLE. Palouse Capital Management Inc. increased its stake in Apple Hospitality REIT by 21.1% during the second quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 750 shares during the last quarter. GAMMA Investing LLC raised its position in Apple Hospitality REIT by 15.5% in the second quarter. GAMMA Investing LLC now owns 11,552 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 1,548 shares during the period. Cozad Asset Management Inc. lifted its stake in shares of Apple Hospitality REIT by 20.1% in the 1st quarter. Cozad Asset Management Inc. now owns 97,244 shares of the real estate investment trust’s stock valued at $1,119,000 after purchasing an additional 16,269 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Apple Hospitality REIT by 6.0% in the 1st quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust’s stock valued at $23,585,000 after purchasing an additional 115,575 shares during the last quarter. Finally, Amundi lifted its stake in shares of Apple Hospitality REIT by 2.8% in the 1st quarter. Amundi now owns 155,765 shares of the real estate investment trust’s stock valued at $1,793,000 after purchasing an additional 4,200 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

About Apple Hospitality REIT

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.