Apple Hospitality REIT (APLE) Stock Rating Upgraded by Zacks Investment Research

Apple Hospitality REIT (NYSE:APLE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $22.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.53% from the stock’s previous close.

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. “

APLE has been the subject of several other reports. BidaskClub downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Robert W. Baird set a $20.00 price objective on shares of Apple Hospitality REIT and gave the company a “buy” rating in a research report on Sunday, October 29th. KeyCorp started coverage on shares of Apple Hospitality REIT in a research report on Friday. They set a “sector weight” rating for the company. TheStreet upgraded shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a research report on Friday, December 8th. Finally, B. Riley restated a “neutral” rating on shares of Apple Hospitality REIT in a research report on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Apple Hospitality REIT presently has an average rating of “Hold” and a consensus target price of $20.50.

Apple Hospitality REIT (APLE) opened at $19.55 on Friday. Apple Hospitality REIT has a 1 year low of $17.49 and a 1 year high of $20.68. The company has a market cap of $4,360.84, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 2.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.05 and a current ratio of 0.05.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a net margin of 18.37% and a return on equity of 6.46%. The business had revenue of $324.90 million during the quarter, compared to the consensus estimate of $324.66 million. During the same period in the previous year, the business earned $0.49 earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. equities research analysts anticipate that Apple Hospitality REIT will post 1.74 EPS for the current year.

In related news, insider Glade M. Knight purchased 5,000 shares of the stock in a transaction dated Friday, November 10th. The stock was bought at an average cost of $19.18 per share, for a total transaction of $95,900.00. Following the completion of the acquisition, the insider now owns 10,046,357 shares of the company’s stock, valued at $192,689,127.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.30% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new position in shares of Apple Hospitality REIT during the fourth quarter worth $393,000. AXA increased its holdings in shares of Apple Hospitality REIT by 533.8% during the third quarter. AXA now owns 532,155 shares of the real estate investment trust’s stock worth $10,063,000 after buying an additional 448,192 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Apple Hospitality REIT by 22.9% during the third quarter. Public Employees Retirement System of Ohio now owns 328,357 shares of the real estate investment trust’s stock worth $6,209,000 after buying an additional 61,219 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Apple Hospitality REIT by 50.9% during the third quarter. GSA Capital Partners LLP now owns 120,835 shares of the real estate investment trust’s stock worth $2,285,000 after buying an additional 40,744 shares in the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of Apple Hospitality REIT by 5.3% during the third quarter. Independent Advisor Alliance now owns 58,592 shares of the real estate investment trust’s stock worth $1,106,000 after buying an additional 2,956 shares in the last quarter. Institutional investors own 50.91% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Apple Hospitality REIT (APLE) Stock Rating Upgraded by Zacks Investment Research” was originally published by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.thelincolnianonline.com/2018/01/14/apple-hospitality-reit-aple-stock-rating-upgraded-by-zacks-investment-research.html.

About Apple Hospitality REIT

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 December 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.

Analyst Recommendations for Apple Hospitality REIT (NYSE:APLE)

Receive News & Ratings for Apple Hospitality REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Hospitality REIT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply