Apple Hospitality REIT, Inc. (APLE) Rating Increased to Hold at Zacks Investment Research
Apple Hospitality REIT, Inc. (NYSE:APLE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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 subject of a number of other research reports. BidaskClub downgraded Apple Hospitality REIT from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Robert W. Baird reaffirmed an “outperform” rating and set a $21.00 target price on shares of Apple Hospitality REIT in a report on Tuesday, July 4th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $19.00 target price (down previously from $20.00) on shares of Apple Hospitality REIT in a report on Friday, August 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Apple Hospitality REIT presently has an average rating of “Hold” and an average price target of $20.00.
Apple Hospitality REIT (APLE) traded up 0.42% during midday trading on Tuesday, reaching $18.95. The company had a trading volume of 642,981 shares. Apple Hospitality REIT has a 12 month low of $17.32 and a 12 month high of $20.68. The firm’s 50-day moving average price is $18.50 and its 200 day moving average price is $18.67. The firm has a market capitalization of $4.23 billion, a PE ratio of 23.00 and a beta of 0.61.
Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $331.70 million during the quarter, compared to analysts’ expectations of $335.94 million. Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. Equities analysts anticipate that Apple Hospitality REIT will post $1.03 earnings per share for the current fiscal year.
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In other news, insider Justin G. Knight bought 17,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $17.62 per share, for a total transaction of $299,540.00. Following the purchase, the insider now owns 1,005,274 shares of the company’s stock, valued at approximately $17,712,927.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Redd Hugh bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average price of $17.83 per share, with a total value of $89,150.00. Following the completion of the purchase, the director now directly owns 61,495 shares in the company, valued at approximately $1,096,455.85. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 45,000 shares of company stock valued at $794,950. Company insiders own 6.30% of the company’s stock.
A number of large investors have recently modified their holdings of APLE. Bank of New York Mellon Corp lifted its stake in Apple Hospitality REIT by 7.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,278,318 shares of the real estate investment trust’s stock valued at $24,416,000 after purchasing an additional 83,872 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Apple Hospitality REIT by 28.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 423,193 shares of the real estate investment trust’s stock valued at $8,083,000 after purchasing an additional 94,974 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Apple Hospitality REIT by 10.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 261,754 shares of the real estate investment trust’s stock valued at $5,000,000 after purchasing an additional 25,477 shares during the last quarter. Mutual of America Capital Management LLC acquired a new stake in Apple Hospitality REIT in the 1st quarter valued at about $125,000. Finally, SG Americas Securities LLC lifted its stake in Apple Hospitality REIT by 28.6% in the 1st quarter. SG Americas Securities LLC now owns 11,300 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 2,514 shares during the last quarter. Institutional investors and hedge funds own 49.18% of the company’s stock.
About Apple Hospitality REIT
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 September 13, 2017, the Company owned 237 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 33 states.
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