Zacks Investment Research upgraded shares of Apple Hospitality REIT (NYSE:APLE) from a sell rating to a hold rating in a report released on Friday morning, Zacks.com reports.

According to Zacks, “Apple Hospitality REIT, Inc. is a real estate investment trust. Its portfolio consists of hotels, guest rooms and resorts. The company operates primarily in the United States. Apple Hospitality REIT, Inc. is headquarted in Richmond, VA. “

A number of other analysts have also weighed in on the company. Barclays raised their target price on Apple Hospitality REIT from $11.00 to $12.00 and gave the company an equal weight rating in a research note on Monday, June 22nd. KeyCorp restated a hold rating on shares of Apple Hospitality REIT in a research note on Tuesday, May 19th. TheStreet lowered Apple Hospitality REIT from a c rating to a d+ rating in a research note on Friday, May 22nd. Bank of America started coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They issued a buy rating and a $13.00 price objective for the company. Finally, ValuEngine upgraded Apple Hospitality REIT from a sell rating to a hold rating in a research report on Monday, June 1st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Apple Hospitality REIT presently has a consensus rating of Buy and an average target price of $14.50.

Apple Hospitality REIT stock opened at $9.09 on Friday. Apple Hospitality REIT has a 52-week low of $4.48 and a 52-week high of $16.88. The firm has a market capitalization of $2.03 billion, a P/E ratio of 15.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.37 and a quick ratio of 4.37. The stock has a fifty day moving average price of $10.32 and a two-hundred day moving average price of $11.41.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, May 18th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.05). Apple Hospitality REIT had a net margin of 10.91% and a return on equity of 3.98%. The business had revenue of $238.01 million during the quarter, compared to analyst estimates of $245.39 million. On average, equities research analysts predict that Apple Hospitality REIT will post 0.22 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. boosted its holdings in Apple Hospitality REIT by 477.8% during the first quarter. Invesco Ltd. now owns 6,001,020 shares of the real estate investment trust’s stock worth $55,029,000 after buying an additional 4,962,389 shares during the last quarter. Eminence Capital LP bought a new position in Apple Hospitality REIT during the first quarter worth about $26,149,000. Norges Bank bought a new position in Apple Hospitality REIT during the fourth quarter worth about $42,307,000. Fuller & Thaler Asset Management Inc. boosted its holdings in Apple Hospitality REIT by 319.0% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,612,331 shares of the real estate investment trust’s stock worth $23,955,000 after buying an additional 1,988,930 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Apple Hospitality REIT by 376,799.6% during the first quarter. Bessemer Group Inc. now owns 953,556 shares of the real estate investment trust’s stock worth $8,744,000 after buying an additional 953,303 shares during the last quarter. Hedge funds and other institutional investors own 62.30% of the company’s stock.

Apple Hospitality REIT Company Profile

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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.

Read More: The mechanics of the bid-ask spread in trading

Get a free copy of the Zacks research report on Apple Hospitality REIT (APLE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Apple Hospitality REIT (NYSE:APLE)

Receive News & Ratings for Apple Hospitality REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Hospitality REIT and related companies with MarketBeat.com's FREE daily email newsletter.