Apple Hospitality REIT (NYSE:APLE)‘s stock had its “buy” rating restated by investment analysts at Robert W. Baird in a research note issued to investors on Friday, January 12th. They currently have a $21.00 price objective on the real estate investment trust’s stock. Robert W. Baird’s price target would suggest a potential upside of 13.02% from the stock’s previous close.
Several other equities analysts have also recently commented on the stock. TheStreet raised shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Friday, December 8th. Zacks Investment Research raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. BidaskClub raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Apple Hospitality REIT in a research note on Wednesday, November 1st. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $20.60.
Apple Hospitality REIT (APLE) traded down $0.15 during trading on Friday, hitting $18.58. 536,525 shares of the stock were exchanged, compared to its average volume of 1,290,952. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.05 and a current ratio of 0.05. Apple Hospitality REIT has a one year low of $17.49 and a one year high of $20.63. The company has a market cap of $4,180.00 and a P/E ratio of 18.42.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a net margin of 18.37% and a return on equity of 6.46%. The company had revenue of $324.90 million for the quarter, compared to the consensus estimate of $324.66 million. During the same period last year, the firm posted $0.49 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. equities analysts expect 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 the firm’s stock in a transaction on Friday, November 10th. The stock was bought at an average cost of $19.18 per share, for a total transaction of $95,900.00. Following the completion of the acquisition, the insider now directly owns 10,046,357 shares in the company, valued at approximately $192,689,127.26. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 6.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in Apple Hospitality REIT by 4.2% in the second quarter. SG Americas Securities LLC now owns 11,771 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 471 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Apple Hospitality REIT by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 494 shares during the period. Ken Stern & Associates Inc. raised its position in shares of Apple Hospitality REIT by 5.4% in the second quarter. Ken Stern & Associates Inc. now owns 12,606 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 647 shares during the period. Rafferty Asset Management LLC raised its position in shares of Apple Hospitality REIT by 4.5% in the second quarter. Rafferty Asset Management LLC now owns 31,119 shares of the real estate investment trust’s stock valued at $582,000 after purchasing an additional 1,338 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Apple Hospitality REIT by 11.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,956 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 1,481 shares during the period. Institutional investors own 53.28% 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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