Apple Hospitality REIT (APLE) Coverage Initiated at KeyCorp
Analysts at KeyCorp assumed coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research report issued on Friday, MarketBeat Ratings reports. The brokerage set a “sector weight” rating on the real estate investment trust’s stock.
Several other brokerages have also recently weighed in on APLE. BidaskClub cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. B. Riley restated a “neutral” rating on shares of Apple Hospitality REIT in a report on Wednesday, November 1st. TheStreet upgraded Apple Hospitality REIT from a “c” rating to a “b-” rating in a report on Friday, December 8th. Finally, Robert W. Baird restated a “buy” rating and issued a $21.00 price objective on shares of Apple Hospitality REIT in a report on Friday. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $20.50.
Shares of Apple Hospitality REIT (APLE) opened at $19.55 on Friday. Apple Hospitality REIT has a 12 month low of $17.49 and a 12 month high of $20.68. The stock has a market capitalization of $4,360.84, a PE ratio of 11.17, a price-to-earnings-growth ratio of 2.22 and a beta of 0.62. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.12.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a return on equity of 6.46% and a net margin of 18.37%. The firm had revenue of $324.90 million for the quarter, compared to the consensus estimate of $324.66 million. During the same quarter last year, the business posted $0.49 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. equities research analysts forecast that Apple Hospitality REIT will post 1.74 earnings per share for the current fiscal year.
In related news, insider Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was bought at an average price of $19.18 per share, for a total transaction of $95,900.00. Following the acquisition, the insider now directly owns 10,046,357 shares of the company’s stock, valued at $192,689,127.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group bought a new position in Apple Hospitality REIT during the second quarter worth about $102,000. The Manufacturers Life Insurance Company grew its holdings in Apple Hospitality REIT by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 494 shares during the period. Pacad Investment Ltd. grew its holdings in Apple Hospitality REIT by 319.0% during the second quarter. Pacad Investment Ltd. now owns 8,800 shares of the real estate investment trust’s stock worth $165,000 after purchasing an additional 6,700 shares during the period. Parametrica Management Ltd bought a new position in Apple Hospitality REIT during the third quarter worth about $204,000. Finally, Advisor Group Inc. grew its holdings in Apple Hospitality REIT by 18.2% during the second quarter. Advisor Group Inc. now owns 11,040 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 1,698 shares during the period. Institutional investors own 50.91% of the company’s stock.
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About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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