Apple Hospitality REIT (APLE) Lifted to Hold at Zacks Investment Research

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

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. “

APLE has been the topic of a number of other research reports. ValuEngine raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. B. Riley raised 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.25.

NYSE APLE opened at $15.70 on Wednesday. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 1.85 and a beta of 0.69. 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 posted its earnings results on Monday, November 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.21). The business had revenue of $332.20 million during the quarter, compared to analyst estimates of $340.17 million. Apple Hospitality REIT had a net margin of 13.42% and a return on equity of 4.77%. Apple Hospitality REIT’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. Equities research analysts predict that Apple Hospitality REIT will post 1.7 EPS for the current fiscal year.

In other news, Director Redd Hugh purchased 2,000 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were bought at an average price of $15.65 per share, with a total value of $31,300.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction dated Thursday, November 15th. The stock was purchased at an average cost of $15.71 per share, for a total transaction of $78,550.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 19,624 shares of company stock worth $313,283. Insiders own 6.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Commonwealth Bank of Australia increased its position in Apple Hospitality REIT by 70.2% during the second quarter. Commonwealth Bank of Australia now owns 9,193 shares of the real estate investment trust’s stock worth $164,000 after acquiring an additional 3,793 shares during the period. Howe & Rusling Inc. bought a new position in Apple Hospitality REIT during the second quarter worth $168,000. NumerixS Investment Technologies Inc bought a new position in Apple Hospitality REIT during the second quarter worth $169,000. US Bancorp DE increased its position in Apple Hospitality REIT by 98.9% during the second quarter. US Bancorp DE now owns 9,872 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 4,908 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in Apple Hospitality REIT during the second quarter worth $177,000. 58.09% of the stock is currently 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, 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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