Apple Hospitality REIT, Inc. (NYSE:APLE)‘s stock had its “hold” rating reaffirmed by stock analysts at Canaccord Genuity in a research note issued to investors on Friday. They currently have a $19.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $20.00. Canaccord Genuity’s price target would indicate a potential upside of 5.46% from the stock’s current price.

Other research analysts also recently issued reports about the company. BidaskClub downgraded Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. FBR & Co reissued a “hold” rating on shares of Apple Hospitality REIT in a research note on Saturday, May 6th. Wells Fargo & Company started coverage on Apple Hospitality REIT in a research note on Wednesday, May 3rd. They issued a “market perform” rating on the stock. Finally, Robert W. Baird reissued an “outperform” rating and issued a $21.00 price objective on shares of Apple Hospitality REIT in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $19.20.

Shares of Apple Hospitality REIT (NYSE:APLE) traded up 0.475% during mid-day trading on Friday, reaching $17.965. The company’s stock had a trading volume of 272,953 shares. The firm has a 50 day moving average price of $18.45 and a 200 day moving average price of $19.05. Apple Hospitality REIT has a 52-week low of $17.32 and a 52-week high of $20.68. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 21.802 and a beta of 0.60.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.01. Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The company had revenue of $331.70 million during the quarter, compared to the consensus estimate of $335.94 million. During the same quarter last year, the firm posted $0.52 EPS. The company’s quarterly revenue was up 28.7% on a year-over-year basis. On average, equities analysts predict that Apple Hospitality REIT will post $0.98 EPS for the current fiscal year.

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In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were bought at an average cost of $17.62 per share, with a total value of $352,400.00. Following the purchase, the chairman now directly owns 10,041,357 shares of the company’s stock, valued at $176,928,710.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Justin G. Knight acquired 5,400 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was acquired at an average cost of $18.64 per share, for a total transaction of $100,656.00. Following the completion of the purchase, the insider now directly owns 1,005,274 shares in the company, valued at $18,738,307.36. The disclosure for this purchase can be found here. Insiders bought a total of 47,800 shares of company stock worth $855,142 over the last three months. 6.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in APLE. Schroder Investment Management Group purchased a new position in Apple Hospitality REIT during the second quarter worth $102,000. Public Employees Retirement Association of Colorado increased its position in Apple Hospitality REIT by 26.7% in the second 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 period. Mutual of America Capital Management LLC purchased a new position in Apple Hospitality REIT during the first quarter worth $125,000. IMS Capital Management purchased a new position in Apple Hospitality REIT during the second quarter worth $140,000. Finally, Ffcm LLC increased its position in Apple Hospitality REIT by 353.1% in the second 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 period. 47.90% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Company Profile

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 31, 2016, the Company owned 235 hotels with an aggregate of 30,073 rooms located in urban, suburban and developing markets throughout 33 states.

Analyst Recommendations for Apple Hospitality REIT (NYSE:APLE)

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