Equities researchers at KeyCorp started coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a report issued on Friday, January 12th, Marketbeat reports. The firm set a “sector weight” rating on the real estate investment trust’s stock.
A number of other brokerages have also commented on APLE. Robert W. Baird restated a “buy” rating and set a $21.00 price target on shares of Apple Hospitality REIT in a research note on Friday, January 12th. TheStreet upgraded shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Friday, December 8th. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. BidaskClub upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Finally, B. Riley reiterated a “neutral” rating on shares of Apple Hospitality REIT in a research note on Wednesday, November 1st. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Apple Hospitality REIT presently has an average rating of “Hold” and an average price target of $20.60.
Shares of Apple Hospitality REIT (NYSE:APLE) traded down $0.41 during mid-day trading on Friday, reaching $18.73. 1,820,300 shares of the company’s stock were exchanged, compared to its average volume of 1,220,000. The company has a market cap of $4,180.00 and a price-to-earnings ratio of 18.54. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.12. Apple Hospitality REIT has a fifty-two week low of $17.49 and a fifty-two week high of $20.62.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. The business had revenue of $324.90 million during the quarter, compared to analyst estimates of $324.66 million. Apple Hospitality REIT had a net margin of 19.33% and a return on equity of 7.19%. Apple Hospitality REIT’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. research analysts anticipate that Apple Hospitality REIT will post 1.74 EPS for the current year.
In other news, insider Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction dated Friday, November 10th. The stock was purchased at an average price of $19.18 per share, for a total transaction of $95,900.00. Following the purchase, the insider now directly owns 10,046,357 shares in the company, valued at approximately $192,689,127.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of APLE. PGGM Investments bought a new position in Apple Hospitality REIT during the fourth quarter valued at about $70,988,000. BlackRock Inc. grew its position in Apple Hospitality REIT by 10.7% during the second quarter. BlackRock Inc. now owns 13,276,704 shares of the real estate investment trust’s stock valued at $248,408,000 after buying an additional 1,282,080 shares during the period. American Century Companies Inc. grew its position in Apple Hospitality REIT by 342.0% during the fourth quarter. American Century Companies Inc. now owns 1,271,120 shares of the real estate investment trust’s stock valued at $24,927,000 after buying an additional 983,516 shares during the period. APG Asset Management N.V. grew its position in Apple Hospitality REIT by 283.1% during the fourth quarter. APG Asset Management N.V. now owns 1,140,900 shares of the real estate investment trust’s stock valued at $18,632,000 after buying an additional 843,100 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Apple Hospitality REIT by 5,789.6% during the third quarter. Daiwa Securities Group Inc. now owns 830,431 shares of the real estate investment trust’s stock valued at $15,704,000 after buying an additional 816,331 shares during the period. Hedge funds and other institutional investors own 51.25% of the company’s stock.
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Apple Hospitality REIT Company Profile
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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