Apple Hospitality REIT (NYSE:APLE) Rating Lowered to “Hold” at Zacks Research

Apple Hospitality REIT (NYSE:APLE) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other research analysts have also recently weighed in on the company. LADENBURG THALM/SH SH boosted their target price on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Compass Point raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $17.50 to $18.50 in a research note on Friday, August 7th. Bank of America raised their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Apple Hospitality REIT in a report on Friday, August 21st. Finally, Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.50.

Apple Hospitality REIT Trading Up 0.7%

Shares of APLE opened at $16.54 on Thursday. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $17.28. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $16.51 and its two-hundred day moving average is $14.39. The stock has a market cap of $3.90 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 3.14 and a beta of 0.88.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. Research analysts forecast that Apple Hospitality REIT will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of Apple Hospitality REIT

A number of large investors have recently made changes to their positions in APLE. Royal Bank of Canada lifted its position in shares of Apple Hospitality REIT by 2.8% during the 1st quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock worth $2,205,000 after buying an additional 4,712 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Apple Hospitality REIT by 114.3% in the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock valued at $1,732,000 after purchasing an additional 72,553 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Apple Hospitality REIT by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock worth $1,776,000 after buying an additional 6,788 shares during the last quarter. NewEdge Advisors LLC increased its position in Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,814 shares during the period. Finally, Jones Financial Companies Lllp grew its position in shares of Apple Hospitality REIT by 10,235.7% during the first quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 21,495 shares during the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Company Profile

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.