Apple Hospitality REIT (NYSE:APLE) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Apple Hospitality REIT (NYSE:APLE) had its price target raised by research analysts at Wells Fargo & Company from $12.00 to $15.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 2.21% from the company’s current price.

Several other equities research analysts have also recently commented on APLE. JPMorgan Chase & Co. assumed coverage on Apple Hospitality REIT in a research note on Monday. They issued a “neutral” rating and a $15.00 target price for the company. Weiss Ratings raised Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. LADENBURG THALM/SH SH began coverage on Apple Hospitality REIT in a report on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price target on the stock. Cantor Fitzgerald lifted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Finally, Barclays reissued an “overweight” rating and set a $16.00 price objective on shares of Apple Hospitality REIT in a report on Monday. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Apple Hospitality REIT has a consensus rating of “Hold” and an average price target of $13.94.

Apple Hospitality REIT Price Performance

Apple Hospitality REIT stock traded down $0.02 on Monday, reaching $14.68. The company’s stock had a trading volume of 251,193 shares, compared to its average volume of 2,952,422. The business’s fifty day moving average price is $13.06 and its 200 day moving average price is $12.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 20.10 and a beta of 0.89. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $15.07.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The company had revenue of $337.74 million during the quarter, compared to analyst estimates of $327.81 million. Equities analysts expect that Apple Hospitality REIT will post 1.55 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the transaction, the chairman directly owned 747,191 shares in the company, valued at approximately $10,430,786.36. This represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 6.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its position in shares of Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,814 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,640 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Apple Hospitality REIT during the third quarter worth $36,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Apple Hospitality REIT during the fourth quarter worth $43,000. Finally, Inspire Investing LLC lifted its position in Apple Hospitality REIT by 2,965.1% in the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 3,736 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

About Apple Hospitality REIT

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.