Apple Hospitality REIT (NYSE:APLE) Given New $19.00 Price Target at LADENBURG THALM/SH SH

Apple Hospitality REIT (NYSE:APLE) had its price target lifted by equities researchers at LADENBURG THALM/SH SH from $18.00 to $19.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. LADENBURG THALM/SH SH‘s target price indicates a potential downside of 3.05% from the company’s previous close.

APLE has been the subject of several other research reports. Compass Point raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their target price for the stock from $17.50 to $18.50 in a research note on Friday, August 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Apple Hospitality REIT in a research note on Friday, August 21st. Zacks Research cut Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. JPMorgan Chase & Co. raised their price objective on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Barclays raised their price target on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 13th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.69.

Apple Hospitality REIT Price Performance

Shares of APLE traded up $0.72 during trading hours on Monday, reaching $19.60. The stock had a trading volume of 4,355,887 shares, compared to its average volume of 2,896,978. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.81. Apple Hospitality REIT has a 12 month low of $11.31 and a 12 month high of $19.82. The stock has a market capitalization of $4.63 billion, a PE ratio of 24.81, a PEG ratio of 2.14 and a beta of 0.93. The company’s 50-day moving average is $16.71 and its two-hundred day moving average is $14.80.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $398.33 million during the quarter, compared to analysts’ expectations of $384.64 million. Apple Hospitality REIT had a net margin of 12.62% and a return on equity of 5.88%. Research analysts expect that Apple Hospitality REIT will post 1.63 EPS for the current year.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of large investors have recently made changes to their positions in APLE. Dimensional Fund Advisors LP grew its position in Apple Hospitality REIT by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,254,332 shares of the real estate investment trust’s stock worth $37,458,000 after acquiring an additional 56,555 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Apple Hospitality REIT in the second quarter worth $26,774,000. Bank of America Corp DE boosted its holdings in shares of Apple Hospitality REIT by 6.0% during the first quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust’s stock worth $23,585,000 after purchasing an additional 115,575 shares during the period. Rush Island Management LP bought a new stake in shares of Apple Hospitality REIT in the 1st quarter worth approximately $17,143,000. Finally, Principal Financial Group Inc. boosted its holdings in Apple Hospitality REIT by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,069,472 shares of the real estate investment trust’s stock valued at $12,310,000 after acquiring an additional 20,691 shares in the last quarter. 89.66% of the stock is owned by institutional investors.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a real estate investment trust that owns a portfolio of hotels in the United States. Its properties primarily serve business and leisure travelers and operate in the upscale segment, including select-service and extended-stay formats.

The company’s hotels are affiliated with well-known hospitality brands, including Marriott, Hilton and Hyatt. Apple Hospitality REIT owns the real estate and works with hotel operators to manage day-to-day operations.

Formed in 2007, the company is headquartered in Richmond, Virginia.