JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Apple Hospitality REIT (NYSE:APLE) Stock

Apple Hospitality REIT (NYSE:APLE) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $15.00 to $16.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 5.63% from the stock’s previous close.

A number of other research firms have also recently issued reports on APLE. LADENBURG THALM/SH SH upped their price target on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Wells Fargo & Company lifted their price objective on Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Cantor Fitzgerald boosted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Bank of America increased their target price on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday. Finally, BMO Capital Markets raised their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Apple Hospitality REIT has an average rating of “Hold” and an average target price of $15.75.

Apple Hospitality REIT Trading Down 0.7%

NYSE:APLE opened at $16.95 on Tuesday. The company’s 50 day moving average is $15.89 and its 200-day moving average is $13.60. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. Apple Hospitality REIT has a 12 month low of $10.85 and a 12 month high of $17.13. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 23.23, a P/E/G ratio of 3.37 and a beta of 0.87.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. Equities analysts anticipate that Apple Hospitality REIT will post 1.59 EPS for the current year.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the purchase, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. The trade was a 0.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of institutional investors have recently added to or reduced their stakes in APLE. SG Americas Securities LLC raised its holdings in shares of Apple Hospitality REIT by 91.9% in the 4th quarter. SG Americas Securities LLC now owns 109,512 shares of the real estate investment trust’s stock worth $1,298,000 after buying an additional 52,446 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Apple Hospitality REIT by 19.6% in the 4th quarter. Hsbc Holdings PLC now owns 374,968 shares of the real estate investment trust’s stock valued at $4,443,000 after buying an additional 61,354 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in Apple Hospitality REIT in the 1st quarter valued at $1,123,000. UBS Group AG grew its position in Apple Hospitality REIT by 60.8% in the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock valued at $55,950,000 after acquiring an additional 1,786,018 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in Apple Hospitality REIT in the first quarter valued at $702,000. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Company Profile

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.