Apple Hospitality REIT (NYSE:APLE) PT Lowered to $17.00

Apple Hospitality REIT (NYSE:APLE) had its target price decreased by analysts at Oppenheimer from $19.00 to $17.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Oppenheimer’s price objective indicates a potential upside of 22.83% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Wedbush began coverage on shares of Apple Hospitality REIT in a report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price target for the company. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.00.

Apple Hospitality REIT Trading Up 1.0 %

Apple Hospitality REIT stock opened at $13.84 on Monday. The stock has a 50-day moving average price of $14.47 and a 200 day moving average price of $15.24. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3.35 billion, a PE ratio of 16.09 and a beta of 1.11. Apple Hospitality REIT has a 52 week low of $13.60 and a 52 week high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. The firm had revenue of $390.08 million for the quarter, compared to analysts’ expectations of $388.82 million. During the same quarter in the prior year, the business earned $0.49 EPS. Equities research analysts predict that Apple Hospitality REIT will post 1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average price of $14.78 per share, with a total value of $73,900.00. Following the transaction, the chairman now owns 631,990 shares in the company, valued at $9,340,812.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have purchased 11,000 shares of company stock worth $158,830. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Securities Inc. bought a new position in Apple Hospitality REIT in the 4th quarter valued at about $26,000. EdgeRock Capital LLC acquired a new stake in Apple Hospitality REIT during the 2nd quarter worth approximately $26,000. YHB Investment Advisors Inc. bought a new stake in Apple Hospitality REIT during the 1st quarter worth approximately $37,000. GAMMA Investing LLC bought a new position in shares of Apple Hospitality REIT during the fourth quarter valued at $41,000. Finally, Fortis Group Advisors LLC raised its position in shares of Apple Hospitality REIT by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,493 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.