LADENBURG THALM/SH SH Begins Coverage on Apple Hospitality REIT (NYSE:APLE)

Research analysts at LADENBURG THALM/SH SH started coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research note issued on Thursday. The brokerage set a “neutral” rating and a $13.00 price target on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s price objective indicates a potential upside of 8.54% from the company’s previous close.

APLE has been the topic of a number of other research reports. Wells Fargo & Company lowered their target price on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Barclays started coverage on Apple Hospitality REIT in a report on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price objective on shares of Apple Hospitality REIT in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Hold” and an average target price of $12.79.

Apple Hospitality REIT Stock Performance

APLE opened at $11.98 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.52. Apple Hospitality REIT has a 12-month low of $10.44 and a 12-month high of $13.45. The firm has a 50 day moving average of $12.11 and a two-hundred day moving average of $11.98. The firm has a market capitalization of $2.82 billion, a PE ratio of 16.19 and a beta of 0.81.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.16). The business had revenue of $326.44 million during the quarter, compared to analysts’ expectations of $322.60 million. Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. On average, analysts anticipate that Apple Hospitality REIT will post 1.6 EPS for the current year.

Hedge Funds Weigh In On Apple Hospitality REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in shares of Apple Hospitality REIT by 2.8% in the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock valued at $2,205,000 after purchasing an additional 4,712 shares during the period. AQR Capital Management LLC boosted its holdings in Apple Hospitality REIT by 114.3% in the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock worth $1,732,000 after buying an additional 72,553 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Apple Hospitality REIT by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock worth $1,776,000 after buying an additional 6,788 shares during the last quarter. NewEdge Advisors LLC increased its stake in Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,814 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in Apple Hospitality REIT by 10,235.7% during the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 21,495 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.