Apple Hospitality REIT (NYSE:APLE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, May 10th.
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. “
A number of other equities analysts also recently commented on the stock. B. Riley set a $20.00 target price on shares of Apple Hospitality REIT and gave the stock a “hold” rating in a research note on Tuesday, May 8th. ValuEngine downgraded shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Barclays restated an “equal weight” rating and issued a $20.00 target price (down from $21.00) on shares of Apple Hospitality REIT in a research note on Tuesday, February 27th. Robert W. Baird set a $20.00 price target on shares of Apple Hospitality REIT and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, TheStreet cut shares of Apple Hospitality REIT from a “b” rating to a “c” rating in a research report on Thursday, February 8th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. Apple Hospitality REIT currently has a consensus rating of “Hold” and a consensus price target of $20.00.
Shares of Apple Hospitality REIT opened at $18.39 on Thursday, MarketBeat reports. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 2.11 and a beta of 0.64. Apple Hospitality REIT has a one year low of $16.72 and a one year high of $20.19.
Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.21). The company had revenue of $298.40 million during the quarter, compared to the consensus estimate of $299.89 million. Apple Hospitality REIT had a return on equity of 5.38% and a net margin of 15.30%. Apple Hospitality REIT’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. equities analysts forecast that Apple Hospitality REIT will post 1.75 EPS for the current fiscal year.
In other news, Chairman Glade M. Knight bought 5,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was bought at an average price of $17.10 per share, with a total value of $99,180.00. Following the completion of the transaction, the chairman now directly owns 10,052,157 shares of the company’s stock, valued at approximately $171,891,884.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin G. Knight bought 2,800 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were purchased at an average cost of $17.38 per share, with a total value of $48,664.00. Following the transaction, the insider now directly owns 1,109,681 shares of the company’s stock, valued at $19,286,255.78. The disclosure for this purchase can be found here. Insiders bought a total of 38,504 shares of company stock valued at $665,862 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.
Large investors have recently bought and sold shares of the stock. US Bancorp DE lifted its position in Apple Hospitality REIT by 132.3% during the fourth quarter. US Bancorp DE now owns 5,479 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 3,120 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Apple Hospitality REIT during the first quarter valued at approximately $176,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Apple Hospitality REIT during the fourth quarter valued at approximately $213,000. Public Employees Retirement Association of Colorado lifted its position in Apple Hospitality REIT by 67.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 11,071 shares of the real estate investment trust’s stock valued at $217,000 after acquiring an additional 4,468 shares during the last quarter. Finally, Evermay Wealth Management LLC purchased a new stake in Apple Hospitality REIT during the fourth quarter valued at approximately $218,000. 56.86% of the stock is owned by institutional investors.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states.
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