Apple Hospitality REIT (NYSE:APLE) Rating Increased to Hold at StockNews.com

Apple Hospitality REIT (NYSE:APLE) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Bank of America lowered Apple Hospitality REIT from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $19.00 to $18.00 in a research report on Monday, January 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $18.40.

Apple Hospitality REIT Trading Up 0.4 %

Shares of APLE traded up $0.06 during trading hours on Tuesday, hitting $14.87. 2,255,832 shares of the stock were exchanged, compared to its average volume of 1,892,539. Apple Hospitality REIT has a fifty-two week low of $14.22 and a fifty-two week high of $17.90. The business has a 50-day moving average of $15.90 and a 200-day moving average of $16.22. The firm has a market capitalization of $3.60 billion, a P/E ratio of 19.06 and a beta of 1.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.36 and a quick ratio of 0.36.

Hedge Funds Weigh In On Apple Hospitality REIT

Several institutional investors have recently made changes to their positions in APLE. Bank of New York Mellon Corp lifted its holdings in shares of Apple Hospitality REIT by 52.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,303,878 shares of the real estate investment trust’s stock worth $35,341,000 after purchasing an additional 795,380 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of Apple Hospitality REIT by 396.0% during the third quarter. New York State Teachers Retirement System now owns 94,935 shares of the real estate investment trust’s stock valued at $1,456,000 after buying an additional 75,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Apple Hospitality REIT by 0.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,845 shares of the real estate investment trust’s stock worth $1,578,000 after acquiring an additional 674 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of Apple Hospitality REIT in the 3rd quarter worth about $922,000. Finally, First Trust Direct Indexing L.P. lifted its position in Apple Hospitality REIT by 20.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 12,023 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.