BidaskClub Upgrades Apple Hospitality REIT (NYSE:APLE) to “Hold”

Apple Hospitality REIT (NYSE:APLE) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, November 10th.

APLE has been the topic of a number of other research reports. Robert W. Baird set a $20.00 price target on Apple Hospitality REIT and gave the stock a “buy” rating in a research report on Sunday, October 29th. Zacks Investment Research cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. B. Riley restated a “neutral” rating on shares of Apple Hospitality REIT in a research note on Wednesday, November 1st. Finally, Canaccord Genuity restated a “hold” rating and set a $19.00 price objective (down from $20.00) on shares of Apple Hospitality REIT in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.67.

Apple Hospitality REIT (NYSE APLE) traded up $0.03 on Friday, hitting $19.39. The stock had a trading volume of 861,000 shares, compared to its average volume of 1,026,510. Apple Hospitality REIT has a fifty-two week low of $17.49 and a fifty-two week high of $20.68. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.12. The company has a market cap of $4,320.00 and a P/E ratio of 11.13.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $324.66 million. During the same quarter in the prior year, the company earned $0.49 EPS. The business’s revenue was up 17.5% compared to the same quarter last year. equities analysts forecast that Apple Hospitality REIT will post 1.73 EPS for the current fiscal year.

In related news, insider Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average cost of $19.18 per share, for a total transaction of $95,900.00. Following the purchase, the insider now directly owns 10,046,357 shares of the company’s stock, valued at approximately $192,689,127.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in APLE. Principal Financial Group Inc. raised its stake in Apple Hospitality REIT by 10.4% in the first quarter. Principal Financial Group Inc. now owns 29,274 shares of the real estate investment trust’s stock valued at $559,000 after buying an additional 2,750 shares during the last quarter. Wellington Management Group LLP raised its stake in Apple Hospitality REIT by 154.2% in the first quarter. Wellington Management Group LLP now owns 48,880 shares of the real estate investment trust’s stock valued at $934,000 after buying an additional 29,650 shares during the last quarter. Teachers Advisors LLC raised its stake in Apple Hospitality REIT by 37.4% in the first quarter. Teachers Advisors LLC now owns 386,804 shares of the real estate investment trust’s stock valued at $7,388,000 after buying an additional 105,377 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Apple Hospitality REIT by 155.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,540,891 shares of the real estate investment trust’s stock valued at $48,531,000 after buying an additional 1,547,960 shares during the last quarter. Finally, Morgan Stanley raised its stake in Apple Hospitality REIT by 31.1% in the first quarter. Morgan Stanley now owns 88,526 shares of the real estate investment trust’s stock valued at $1,692,000 after buying an additional 20,987 shares during the last quarter. Institutional investors own 50.87% of the company’s stock.

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Apple Hospitality REIT Company Profile

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 September 13, 2017, the Company owned 237 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 33 states.

Analyst Recommendations for Apple Hospitality REIT (NYSE:APLE)

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