Apple Hospitality REIT (NYSE:APLE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

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. “

Separately, B. Riley upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Apple Hospitality REIT currently has an average rating of “Hold” and a consensus target price of $20.25.

Shares of NYSE APLE opened at $15.66 on Tuesday. The stock has a market cap of $3.63 billion, a P/E ratio of 9.00, a P/E/G ratio of 1.87 and a beta of 0.68. Apple Hospitality REIT has a 12-month low of $15.56 and a 12-month high of $20.19.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.21). The company had revenue of $332.20 million for the quarter, compared to analyst estimates of $340.17 million. Apple Hospitality REIT had a return on equity of 4.77% and a net margin of 13.42%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. Analysts forecast that Apple Hospitality REIT will post 1.7 earnings per share for the current year.

In other Apple Hospitality REIT news, insider Glade M. Knight bought 5,000 shares of the business’s stock in a transaction on Monday, November 12th. The shares were bought at an average cost of $16.22 per share, for a total transaction of $81,100.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Redd Hugh bought 2,000 shares of the business’s stock in a transaction on Friday, November 16th. The shares were acquired at an average price of $15.65 per share, for a total transaction of $31,300.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 19,624 shares of company stock worth $313,283. Corporate insiders own 6.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its stake in shares of Apple Hospitality REIT by 6.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 49,841 shares of the real estate investment trust’s stock valued at $891,000 after acquiring an additional 2,973 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Apple Hospitality REIT by 2.5% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 133,100 shares of the real estate investment trust’s stock valued at $2,380,000 after acquiring an additional 3,300 shares during the last quarter. HGK Asset Management Inc. increased its stake in shares of Apple Hospitality REIT by 15.3% in the 2nd quarter. HGK Asset Management Inc. now owns 27,181 shares of the real estate investment trust’s stock valued at $486,000 after acquiring an additional 3,598 shares during the last quarter. Teachers Insurance & Annuity Association of America increased its stake in shares of Apple Hospitality REIT by 1.4% in the 2nd quarter. Teachers Insurance & Annuity Association of America now owns 279,063 shares of the real estate investment trust’s stock valued at $4,990,000 after acquiring an additional 3,728 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its stake in shares of Apple Hospitality REIT by 70.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 9,193 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 3,793 shares during the last quarter. Institutional investors own 56.22% 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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.

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