Apple Hospitality REIT (NYSE:APLE)‘s stock had its “hold” rating reaffirmed by Barclays in a research note issued to investors on Sunday. They presently have a $18.00 price objective on the real estate investment trust’s stock. Barclays‘s price objective indicates a potential upside of 12.15% from the company’s current price.
APLE has been the topic of a number of other reports. TheStreet lowered shares of Apple Hospitality REIT from a “b-” rating to a “c+” rating in a research report on Thursday, January 3rd. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. B. Riley set a $20.00 target price on shares of Apple Hospitality REIT and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Finally, ValuEngine lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $19.75.
Shares of APLE opened at $16.05 on Friday. The company has a market cap of $3.63 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 1.88 and a beta of 0.87. Apple Hospitality REIT has a 12-month low of $13.81 and a 12-month high of $19.28.
In related news, insider Bryan Peery purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The stock was purchased at an average cost of $15.50 per share, with a total value of $77,500.00. Following the completion of the acquisition, the insider now directly owns 335,018 shares in the company, valued at $5,192,779. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Redd Hugh purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The shares were bought at an average cost of $15.65 per share, with a total value of $31,300.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 16,624 shares of company stock valued at $261,143. Corporate insiders own 6.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of APLE. Jane Street Group LLC acquired a new stake in shares of Apple Hospitality REIT during the second quarter worth $284,000. Bank of Montreal Can lifted its holdings in shares of Apple Hospitality REIT by 742.3% during the third quarter. Bank of Montreal Can now owns 238,270 shares of the real estate investment trust’s stock worth $4,168,000 after purchasing an additional 209,983 shares during the period. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of Apple Hospitality REIT during the third quarter worth $192,000. First Hawaiian Bank acquired a new stake in Apple Hospitality REIT in the third quarter valued at $280,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in Apple Hospitality REIT by 601.4% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,471,366 shares of the real estate investment trust’s stock valued at $25,734,000 after acquiring an additional 1,261,586 shares during the period. 54.10% of the stock is owned by hedge funds and other 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 and most diverse portfolios of upscale, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.
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