StockNews.com Upgrades Apple Hospitality REIT (NYSE:APLE) to Hold

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

A number of other research firms have also recently commented on APLE. Wells Fargo & Company decreased their target price on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Oppenheimer reissued an “outperform” rating and set a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of “Hold” and an average price target of $16.50.

Apple Hospitality REIT Stock Performance

APLE opened at $16.11 on Friday. The firm has a fifty day moving average price of $15.16 and a 200 day moving average price of $14.69. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $17.90. The stock has a market cap of $3.87 billion, a P/E ratio of 18.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. During the same quarter last year, the business earned $0.45 EPS. Equities research analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Apple Hospitality REIT by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after acquiring an additional 1,217,142 shares during the last quarter. Masterton Capital Management LP acquired a new stake in shares of Apple Hospitality REIT during the 2nd quarter valued at approximately $3,378,000. Dimensional Fund Advisors LP lifted its holdings in shares of Apple Hospitality REIT by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after purchasing an additional 154,159 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Apple Hospitality REIT by 14.9% during the third quarter. Sound Income Strategies LLC now owns 818,601 shares of the real estate investment trust’s stock valued at $12,156,000 after buying an additional 105,993 shares during the last quarter. Finally, Aurora Investment Counsel lifted its stake in shares of Apple Hospitality REIT by 182.9% in the 2nd quarter. Aurora Investment Counsel now owns 75,802 shares of the real estate investment trust’s stock worth $1,102,000 after acquiring an additional 49,003 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

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.