Apple Hospitality REIT (NYSE:APLE) Given New $17.00 Price Target at LADENBURG THALM/SH SH

Apple Hospitality REIT (NYSE:APLE) had its target price upped by stock analysts at LADENBURG THALM/SH SH from $15.00 to $17.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s target price indicates a potential upside of 2.56% from the company’s previous close.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. initiated coverage on Apple Hospitality REIT in a research note on Monday, June 1st. They issued a “neutral” rating and a $15.00 price target on the stock. Barclays boosted their target price on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. BMO Capital Markets raised their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, June 12th. Wells Fargo & Company lifted their price target on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Finally, Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of “Hold” and an average target price of $14.94.

Apple Hospitality REIT Trading Up 2.0%

Shares of APLE stock traded up $0.33 during mid-day trading on Thursday, hitting $16.57. The company’s stock had a trading volume of 1,659,630 shares, compared to its average volume of 2,968,570. The company has a market cap of $3.91 billion, a PE ratio of 22.73, a P/E/G ratio of 8.00 and a beta of 0.89. 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’s fifty day simple moving average is $14.11 and its 200-day simple moving average is $12.77. Apple Hospitality REIT has a 52 week low of $10.85 and a 52 week high of $16.71.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $327.81 million. As a group, equities research analysts expect that Apple Hospitality REIT will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the acquisition, the chairman directly owned 747,191 shares of the company’s stock, valued at $10,430,786.36. This represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of institutional investors and hedge funds have recently made changes to their positions in APLE. Cozad Asset Management Inc. lifted its position in Apple Hospitality REIT by 20.1% in the 1st quarter. Cozad Asset Management Inc. now owns 97,244 shares of the real estate investment trust’s stock valued at $1,119,000 after acquiring an additional 16,269 shares in the last quarter. Bank of America Corp DE increased its holdings in Apple Hospitality REIT by 6.0% during the 1st 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 in the last quarter. Amundi increased its holdings in Apple Hospitality REIT by 2.8% during the 1st quarter. Amundi now owns 155,765 shares of the real estate investment trust’s stock worth $1,793,000 after purchasing an additional 4,200 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Apple Hospitality REIT by 28.6% in the first quarter. California State Teachers Retirement System now owns 278,185 shares of the real estate investment trust’s stock worth $3,202,000 after purchasing an additional 61,900 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Apple Hospitality REIT by 8.1% in the first quarter. Royal Bank of Canada now owns 183,434 shares of the real estate investment trust’s stock worth $2,112,000 after purchasing an additional 13,701 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

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.