Apple Hospitality REIT (NYSE:APLE) Stock Gets Price Target Increase from Cantor Fitzgerald

Apple Hospitality REIT (NYSE:APLE) had its target price boosted by equities research analysts at Cantor Fitzgerald from $18.00 to $22.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Cantor Fitzgerald‘s price objective points to a potential upside of 12.26% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. 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. Barclays boosted their target price on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, October 13th. Wells Fargo & Company increased their price target on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. Bank of America lifted their price target on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, LADENBURG THALM/SH SH upped their price objective on Apple Hospitality REIT from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Monday. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.19.

Apple Hospitality REIT Stock Up 3.8%

Shares of NYSE:APLE opened at $19.60 on Tuesday. Apple Hospitality REIT has a 52-week low of $11.31 and a 52-week high of $19.82. The stock has a market cap of $4.63 billion, a P/E ratio of 24.81, a PEG ratio of 2.14 and a beta of 0.93. The business has a fifty day moving average of $16.78 and a two-hundred day moving average of $14.84. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $398.33 million for the quarter, compared to analyst estimates of $384.64 million. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. On average, research analysts expect that Apple Hospitality REIT will post 1.63 earnings per share for the current year.

Hedge Funds Weigh In On Apple Hospitality REIT

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

Apple Hospitality REIT Company Profile

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.