Barclays Upgrades Apple Hospitality REIT (NYSE:APLE) to “Overweight”

Barclays upgraded shares of Apple Hospitality REIT (NYSE:APLE) from an equal weight rating to an overweight rating in a research note published on Monday morning, BenzingaRatingsTable reports. Barclays currently has $18.00 target price on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Apple Hospitality REIT from a hold rating to a sell rating in a research report on Thursday, August 8th. Capital One Financial began coverage on shares of Apple Hospitality REIT in a research report on Tuesday, June 25th. They issued an equal weight rating and a $17.00 price target on the stock. Finally, ValuEngine raised shares of Apple Hospitality REIT from a sell rating to a hold rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $18.25.

Shares of APLE opened at $15.47 on Monday. The firm has a market cap of $3.50 billion, a PE ratio of 8.99, a PEG ratio of 1.89 and a beta of 0.82. The firm’s 50 day moving average price is $15.60 and its 200 day moving average price is $16.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT has a twelve month low of $13.81 and a twelve month high of $17.99.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $341.12 million for the quarter, compared to analyst estimates of $340.44 million. Apple Hospitality REIT had a net margin of 15.44% and a return on equity of 5.75%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. On average, sell-side analysts anticipate that Apple Hospitality REIT will post 1.65 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, August 2nd were given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.76%. The ex-dividend date of this dividend was Thursday, August 1st. Apple Hospitality REIT’s dividend payout ratio is 69.77%.

In other news, insider Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $15.39 per share, with a total value of $76,950.00. Following the completion of the transaction, the insider now directly owns 10,133,812 shares in the company, valued at approximately $155,959,366.68. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Redd Hugh purchased 2,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $15.55 per share, for a total transaction of $31,100.00. Following the transaction, the director now owns 95,154 shares of the company’s stock, valued at $1,479,644.70. The disclosure for this purchase can be found here. In the last three months, insiders bought 9,000 shares of company stock worth $139,810. Insiders own 6.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new stake in shares of Apple Hospitality REIT in the first quarter worth $37,000. Point72 Hong Kong Ltd grew its stake in shares of Apple Hospitality REIT by 159.6% in the second quarter. Point72 Hong Kong Ltd now owns 2,355 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 1,448 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Apple Hospitality REIT by 113.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,386 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 1,267 shares during the last quarter. AGF Investments LLC grew its stake in shares of Apple Hospitality REIT by 72.9% in the second quarter. AGF Investments LLC now owns 2,471 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 1,042 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Apple Hospitality REIT by 353.3% in the first quarter. Quadrant Capital Group LLC now owns 3,400 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 2,650 shares during the last quarter. 56.90% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Company Profile

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 30,800 guest rooms located in 88 markets throughout 34 states.

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