Apple Hospitality REIT, Inc. (APLE) Stock Rating Upgraded by BidaskClub
Apple Hospitality REIT, Inc. (NYSE:APLE) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday.
Other equities research analysts have also issued research reports about the company. B. Riley restated a “neutral” rating on shares of Apple Hospitality REIT in a research report on Wednesday, November 1st. Canaccord Genuity restated 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. Robert W. Baird set a $20.00 target price on Apple Hospitality REIT and gave the company a “buy” rating in a research report on Sunday, October 29th. Finally, Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $19.67.
Shares of Apple Hospitality REIT (APLE) opened at $19.13 on Friday. Apple Hospitality REIT has a 52-week low of $17.35 and a 52-week high of $20.68. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.06 and a current ratio of 0.05. The company has a market capitalization of $4,267.16, a PE ratio of 10.93, a P/E/G ratio of 2.21 and a beta of 0.60.
Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, November 6th. The real estate investment trust reported $0.48 EPS for the quarter, beating the 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 company had revenue of $324.90 million for the quarter, compared to analyst estimates of $324.66 million. During the same quarter in the prior year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. research analysts forecast that Apple Hospitality REIT will post 1.73 earnings per share for the current year.
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In other news, Director Redd Hugh purchased 2,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average price of $17.96 per share, for a total transaction of $35,920.00. Following the completion of the acquisition, the director now owns 59,495 shares in the company, valued at $1,068,530.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders acquired 8,000 shares of company stock worth $143,010. Corporate insiders own 6.30% of the company’s stock.
A number of large investors have recently made changes to their positions in APLE. William Blair Investment Management LLC bought a new position in shares of Apple Hospitality REIT in the second quarter valued at approximately $2,145,000. BlackRock Inc. lifted its holdings in shares of Apple Hospitality REIT by 3,420.4% in the first quarter. BlackRock Inc. now owns 11,994,624 shares of the real estate investment trust’s stock valued at $229,099,000 after purchasing an additional 11,653,910 shares in the last quarter. Paragon Capital Management Ltd bought a new position in shares of Apple Hospitality REIT in the second quarter valued at approximately $234,000. Dimensional Fund Advisors LP lifted its holdings in shares of Apple Hospitality REIT by 155.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,540,891 shares of the real estate investment trust’s stock valued at $48,531,000 after purchasing an additional 1,547,960 shares in the last quarter. Finally, Forsta AP Fonden lifted its holdings in shares of Apple Hospitality REIT by 259.4% in the second quarter. Forsta AP Fonden now owns 80,500 shares of the real estate investment trust’s stock valued at $1,506,000 after purchasing an additional 58,100 shares in the last quarter. Institutional investors and hedge funds own 49.15% of the company’s stock.
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 September 13, 2017, the Company owned 237 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 33 states.
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