Wells Fargo & Company Upgrades Apple Hospitality REIT (NYSE:APLE) to Hold

Apple Hospitality REIT (NYSE:APLE) was upgraded by investment analysts at Wells Fargo & Company to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also recently weighed in on the company. Bank of America boosted their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Zacks Research upgraded shares of Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a report on Wednesday. BMO Capital Markets lifted their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, June 12th. Barclays reissued an “equal weight” rating and set a $17.00 target price (up from $16.00) on shares of Apple Hospitality REIT in a report on Tuesday. Finally, LADENBURG THALM/SH SH upped their price target on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Hold” and an average price target of $16.00.

Apple Hospitality REIT Trading Up 1.0%

Shares of APLE stock opened at $16.78 on Thursday. The firm has a market capitalization of $3.96 billion, a P/E ratio of 22.98, a P/E/G ratio of 3.25 and a beta of 0.87. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $17.13. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $16.00 and its 200 day simple moving average is $13.65.

Apple Hospitality REIT (NYSE:APLE) last posted 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. The firm had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. As a group, sell-side analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were bought 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 trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of hedge funds have recently added to or reduced their stakes in APLE. NewEdge Advisors LLC lifted its stake in Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,814 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Apple Hospitality REIT by 1,375.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,640 shares during the period. Danske Bank A S acquired a new stake in shares of Apple Hospitality REIT during the 3rd quarter worth approximately $36,000. Godfrey Financial Associates Inc. bought a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at $43,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Apple Hospitality REIT by 97.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,872 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Company Profile

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.