LADENBURG THALM/SH SH Initiates Coverage on Apple Hospitality REIT (NYSE:APLE)

Research analysts at LADENBURG THALM/SH SH began coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research note issued on Thursday, Marketbeat.com reports. The firm set a “neutral” rating and a $13.00 price target on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s price objective points to a potential upside of 13.09% from the stock’s current price.

Several other analysts have also weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $14.00 price target on shares of Apple Hospitality REIT in a report on Tuesday, March 3rd. Barclays began coverage on shares of Apple Hospitality REIT in a research report on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus target price of $12.79.

Apple Hospitality REIT Stock Down 3.4%

APLE opened at $11.50 on Thursday. The firm’s fifty day moving average is $12.08 and its 200 day moving average is $11.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.40 and a current ratio of 0.40. Apple Hospitality REIT has a fifty-two week low of $10.44 and a fifty-two week high of $13.27. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 15.53 and a beta of 0.81.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.16). Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. The business had revenue of $326.44 million during the quarter, compared to analysts’ expectations of $322.60 million. On average, sell-side analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apple Hospitality REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC grew its stake in Apple Hospitality REIT by 7.9% in the 3rd quarter. Private Advisor Group LLC now owns 13,883 shares of the real estate investment trust’s stock worth $167,000 after acquiring an additional 1,022 shares in the last quarter. MML Investors Services LLC increased its position in shares of Apple Hospitality REIT by 1.4% during the second quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock worth $937,000 after acquiring an additional 1,100 shares during the period. Captrust Financial Advisors increased its position in shares of Apple Hospitality REIT by 9.3% during the fourth quarter. Captrust Financial Advisors now owns 13,519 shares of the real estate investment trust’s stock worth $160,000 after acquiring an additional 1,149 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Apple Hospitality REIT by 16.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,316 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Apple Hospitality REIT by 22.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,440 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 1,202 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

About Apple Hospitality REIT

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.