Apple Hospitality REIT (NYSE:APLE) PT Set at $18.50 by Compass Point

Apple Hospitality REIT (NYSE:APLE) has been assigned a $18.50 target price by equities researchers at Compass Point in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Compass Point’s price target points to a potential upside of 15.26% from the company’s previous close.

APLE has been the topic of a number of other research reports. Bank of America lifted their price objective on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Zacks Research raised Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. LADENBURG THALM/SH SH upped their price objective on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, Cantor Fitzgerald increased 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Apple Hospitality REIT has a consensus rating of “Hold” and a consensus price target of $16.28.

Apple Hospitality REIT Stock Down 3.0%

Shares of Apple Hospitality REIT stock opened at $16.05 on Friday. Apple Hospitality REIT has a one year low of $10.85 and a one year high of $17.28. The company has a market cap of $3.79 billion, a P/E ratio of 21.69, a PEG ratio of 3.24 and a beta of 0.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a fifty day moving average of $16.37 and a two-hundred day moving average of $13.93.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. On average, analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the transaction, the chairman owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Apple Hospitality REIT during the 4th quarter worth approximately $40,950,000. Centerbridge Partners L.P. grew its holdings in Apple Hospitality REIT by 88.2% during the 4th quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock valued at $50,123,000 after buying an additional 1,982,000 shares during the last quarter. UBS Group AG increased its position in Apple Hospitality REIT by 60.8% during the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock worth $55,950,000 after buying an additional 1,786,018 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Apple Hospitality REIT during the second quarter worth $26,774,000. Finally, Rush Island Management LP acquired a new position in shares of Apple Hospitality REIT in the first quarter worth $17,143,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

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.