Apple Hospitality REIT (NYSE:APLE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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 topic of a number of other research reports. Robert W. Baird set a $20.00 price target on shares of Apple Hospitality REIT and gave the stock a “buy” rating in a research note on Sunday, October 29th. BidaskClub raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. B. Riley reaffirmed a “neutral” rating on shares of Apple Hospitality REIT in a research note on Wednesday, November 1st. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $19.00 price target (down previously from $20.00) on shares of Apple Hospitality REIT in a research note on Friday, August 11th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Apple Hospitality REIT presently has a consensus rating of “Hold” and an average target price of $19.67.

Shares of Apple Hospitality REIT (NYSE APLE) traded down $0.09 on Tuesday, hitting $19.39. 931,323 shares of the company traded hands, compared to its average volume of 1,030,388. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $4,318.46, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 2.23 and a beta of 0.62. Apple Hospitality REIT has a fifty-two week low of $17.49 and a fifty-two week high of $20.68.

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 for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. The company had revenue of $324.90 million for the quarter, compared to the consensus estimate of $324.66 million. Apple Hospitality REIT had a net margin of 18.37% and a return on equity of 6.46%. Apple Hospitality REIT’s revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 earnings per share. equities research analysts expect that Apple Hospitality REIT will post 1.73 earnings per share for the current fiscal year.

In related news, insider Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were bought at an average price of $19.18 per share, with a total value of $95,900.00. Following the completion of the purchase, the insider now directly owns 10,046,357 shares in the company, valued at approximately $192,689,127.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of 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 worth $220,000 after acquiring an additional 471 shares in the last quarter. The Manufacturers Life Insurance Company increased 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 worth $132,000 after acquiring an additional 494 shares in the last quarter. GAM Holding AG increased its position in shares of Apple Hospitality REIT by 2.8% in the second quarter. GAM Holding AG now owns 18,100 shares of the real estate investment trust’s stock worth $339,000 after acquiring an additional 500 shares in the last quarter. Ken Stern & Associates Inc. increased 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 worth $240,000 after acquiring an additional 647 shares in the last quarter. Finally, Rafferty Asset Management LLC increased 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 worth $582,000 after acquiring an additional 1,338 shares in the last quarter. 50.91% of the stock is owned by institutional investors.

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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 October 23, 2017, the Company owned 238 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 34 states.

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