Apple Hospitality REIT (APLE) Receives New Coverage from Analysts at KeyCorp

Stock analysts at KeyCorp began coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage set a “sector weight” rating on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on the company. Robert W. Baird reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Apple Hospitality REIT in a research note on Friday. TheStreet raised Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Friday, December 8th. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. BidaskClub raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Finally, B. Riley reissued a “neutral” rating on shares of Apple Hospitality REIT in a research report on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Apple Hospitality REIT has a consensus rating of “Hold” and an average target price of $20.50.

Apple Hospitality REIT (NYSE APLE) traded down $0.12 during midday trading on Friday, hitting $19.55. The stock had a trading volume of 990,203 shares, compared to its average volume of 1,070,571. The firm has a market cap of $4,360.84, a price-to-earnings ratio of 11.17, a P/E/G ratio of 2.22 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. 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 (NYSE:APLE) last released its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $324.90 million for the quarter, compared to analyst estimates of $324.66 million. Apple Hospitality REIT had a return on equity of 6.46% and a net margin of 18.37%. The company’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. equities analysts expect that Apple Hospitality REIT will post 1.74 earnings per share for the current fiscal year.

In related news, insider Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, November 10th. The shares were purchased at an average cost of $19.18 per share, with a total value of $95,900.00. Following the transaction, the insider now owns 10,046,357 shares of the company’s stock, valued at approximately $192,689,127.26. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in APLE. Schroder Investment Management Group acquired a new position in Apple Hospitality REIT during the 2nd quarter worth approximately $102,000. The Manufacturers Life Insurance Company lifted its position in Apple Hospitality REIT by 7.5% during the 2nd 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. Pacad Investment Ltd. lifted its position in Apple Hospitality REIT by 319.0% during the 2nd quarter. Pacad Investment Ltd. now owns 8,800 shares of the real estate investment trust’s stock worth $165,000 after acquiring an additional 6,700 shares in the last quarter. Parametrica Management Ltd acquired a new position in Apple Hospitality REIT during the 3rd quarter worth approximately $204,000. Finally, Advisor Group Inc. increased its holdings in Apple Hospitality REIT by 18.2% during the 2nd quarter. Advisor Group Inc. now owns 11,040 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 1,698 shares during the last quarter. 50.91% of the stock is currently owned by hedge funds and other 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 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.

Analyst Recommendations for Apple Hospitality REIT (NYSE:APLE)