Capital One Financial Initiates Coverage on Apple Hospitality REIT (NYSE:APLE)

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Analysts at Capital One Financial initiated coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a report issued on Tuesday, The Fly reports. The brokerage set an “equal weight” rating and a $17.00 price target on the real estate investment trust’s stock. Capital One Financial‘s target price suggests a potential upside of 10.53% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. ValuEngine raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, B. Riley reissued a “buy” rating on shares of Apple Hospitality REIT in a report on Tuesday, February 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $18.33.

Shares of NYSE:APLE opened at $15.38 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. Apple Hospitality REIT has a 1-year low of $13.81 and a 1-year high of $18.44. The stock has a market capitalization of $3.51 billion, a P/E ratio of 8.94, a P/E/G ratio of 1.90 and a beta of 0.84. The firm’s 50 day moving average price is $16.00.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). Apple Hospitality REIT had a net margin of 15.84% and a return on equity of 5.82%. The firm had revenue of $303.79 million for the quarter, compared to analysts’ expectations of $303.62 million. During the same period in the prior year, the firm earned $0.38 EPS. Apple Hospitality REIT’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts expect that Apple Hospitality REIT will post 1.65 EPS for the current year.

In related news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction dated Friday, May 17th. The shares were purchased at an average price of $16.42 per share, with a total value of $82,100.00. Following the completion of the acquisition, the chairman now owns 10,128,812 shares of the company’s stock, valued at $166,315,093.04. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Redd Hugh bought 2,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was bought at an average cost of $15.88 per share, for a total transaction of $31,760.00. Following the acquisition, the director now directly owns 92,154 shares of the company’s stock, valued at approximately $1,463,405.52. The disclosure for this purchase can be found here. 6.50% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in APLE. Rhumbline Advisers raised its stake in Apple Hospitality REIT by 2.6% during the fourth quarter. Rhumbline Advisers now owns 228,418 shares of the real estate investment trust’s stock valued at $3,257,000 after purchasing an additional 5,685 shares in the last quarter. Eaton Vance Management raised its stake in Apple Hospitality REIT by 4.1% during the fourth quarter. Eaton Vance Management now owns 39,539 shares of the real estate investment trust’s stock valued at $564,000 after purchasing an additional 1,543 shares in the last quarter. Acadian Asset Management LLC raised its stake in Apple Hospitality REIT by 3,254.9% during the fourth quarter. Acadian Asset Management LLC now owns 46,599 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 45,210 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Apple Hospitality REIT by 22.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 36,335 shares of the real estate investment trust’s stock valued at $519,000 after purchasing an additional 6,614 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Apple Hospitality REIT by 8.9% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 38,702 shares of the real estate investment trust’s stock valued at $552,000 after purchasing an additional 3,150 shares in the last quarter. 57.35% of the stock is currently owned by institutional investors.

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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.

Read More: How To Calculate Debt-to-Equity Ratio

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