Apple Hospitality REIT (NYSE:APLE) Earns “Hold (C)” Rating from Weiss Ratings

Apple Hospitality REIT (NYSE:APLE)‘s stock had its “hold (c)” rating reaffirmed by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

APLE has been the subject of several other research reports. Wells Fargo & Company upgraded shares of Apple Hospitality REIT to a “hold” rating in a report on Friday, October 3rd. Robert W. Baird cut their target price on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Finally, Cantor Fitzgerald began coverage on Apple Hospitality REIT in a research report on Wednesday, October 1st. They set an “overweight” rating and a $14.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Apple Hospitality REIT Stock Down 0.9%

Shares of NYSE APLE opened at $11.48 on Wednesday. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 15.31 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50-day moving average of $12.32 and a two-hundred day moving average of $12.06. Apple Hospitality REIT has a 1 year low of $10.44 and a 1 year high of $16.50.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%.The business had revenue of $384.37 million for the quarter, compared to analyst estimates of $381.37 million. On average, analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight acquired 5,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $12.29 per share, with a total value of $61,450.00. Following the purchase, the chairman owned 705,344 shares of the company’s stock, valued at $8,668,677.76. This represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Apple Hospitality REIT during the 4th quarter worth approximately $255,000. Harbor Capital Advisors Inc. boosted its position in shares of Apple Hospitality REIT by 20.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 184,016 shares of the real estate investment trust’s stock worth $2,376,000 after purchasing an additional 30,719 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Apple Hospitality REIT by 12.0% during the 1st quarter. Sound Income Strategies LLC now owns 1,016,816 shares of the real estate investment trust’s stock worth $13,127,000 after purchasing an additional 108,833 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Apple Hospitality REIT by 3.1% during the 1st quarter. QRG Capital Management Inc. now owns 162,231 shares of the real estate investment trust’s stock worth $2,094,000 after purchasing an additional 4,834 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Apple Hospitality REIT by 16.9% in the first quarter. Blue Trust Inc. now owns 9,934 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 1,438 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.