Apple Hospitality REIT (APLE) Upgraded at TheStreet
Apple Hospitality REIT (NYSE:APLE) was upgraded by investment analysts at TheStreet from a “c” rating to a “b-” rating in a report issued on Friday.
Several other equities research analysts have also weighed in on APLE. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, December 5th. BidaskClub raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. B. Riley reissued a “neutral” rating on shares of Apple Hospitality REIT in a research report on Wednesday, November 1st. Robert W. Baird set a $20.00 target price on Apple Hospitality REIT and gave the stock a “buy” rating in a research report on Sunday, October 29th. Finally, Canaccord Genuity reissued a “hold” rating and set a $19.00 target price (down previously from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.67.
Shares of Apple Hospitality REIT (APLE) opened at $19.56 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $4,403.22, a PE ratio of 11.28, a price-to-earnings-growth ratio of 2.27 and a beta of 0.62. Apple Hospitality REIT has a 12-month low of $17.49 and a 12-month high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The company had revenue of $324.90 million for the quarter, compared to analyst estimates of $324.66 million. Apple Hospitality REIT had a return on equity of 6.46% and a net margin of 18.37%. Apple Hospitality REIT’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. equities research analysts expect that Apple Hospitality REIT will post 1.74 earnings per share for the current fiscal year.
In other Apple Hospitality REIT news, insider Glade M. Knight bought 5,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were acquired at an average price of $19.18 per share, with a total value of $95,900.00. Following the transaction, the insider now owns 10,046,357 shares of the company’s stock, valued at $192,689,127.26. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 6.30% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in APLE. Schroder Investment Management Group purchased a new position in Apple Hospitality REIT during the 2nd quarter worth approximately $102,000. Public Employees Retirement Association of Colorado grew its stake in Apple Hospitality REIT by 26.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 1,393 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Apple Hospitality REIT by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 494 shares during the last quarter. IMS Capital Management purchased a new position in Apple Hospitality REIT during the 2nd quarter worth approximately $140,000. Finally, Ffcm LLC grew its stake in Apple Hospitality REIT by 353.1% during the 2nd quarter. Ffcm LLC now owns 8,374 shares of the real estate investment trust’s stock worth $159,000 after buying an additional 6,526 shares during the last quarter. Hedge funds and other 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 October 23, 2017, the Company owned 238 hotels, with more than 30,000 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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