Wells Fargo & Company Forecasts Strong Price Appreciation for Apple Hospitality REIT (NYSE:APLE) Stock

Apple Hospitality REIT (NYSE:APLE) had its target price increased by analysts at Wells Fargo & Company from $17.00 to $18.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 1.94% from the stock’s previous close.

APLE has been the subject of a number of other reports. Bank of America upped their price objective on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Apple Hospitality REIT in a research note on Friday, August 21st. Compass Point upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their target price for the company from $17.50 to $18.50 in a research note on Friday, August 7th. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Apple Hospitality REIT from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Three investment 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 currently has a consensus rating of “Hold” and a consensus price target of $17.31.

Apple Hospitality REIT Stock Performance

Shares of Apple Hospitality REIT stock traded up $0.32 on Monday, reaching $18.36. 91,196 shares of the company were exchanged, compared to its average volume of 2,872,749. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73. The company’s 50-day moving average is $16.26 and its two-hundred day moving average is $15.59. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 3.47 and a beta of 0.92. Apple Hospitality REIT has a 1-year low of $10.85 and a 1-year high of $18.44.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. The business had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. As a group, research analysts expect that Apple Hospitality REIT will post 1.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apple Hospitality REIT

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its position in shares of Apple Hospitality REIT by 37.1% in the 3rd quarter. Signaturefd LLC now owns 15,950 shares of the real estate investment trust’s stock valued at $258,000 after purchasing an additional 4,316 shares during the period. James Investment Research Inc. lifted its stake in Apple Hospitality REIT by 7.0% during the third quarter. James Investment Research Inc. now owns 43,518 shares of the real estate investment trust’s stock valued at $703,000 after buying an additional 2,850 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Apple Hospitality REIT by 38.0% in the third quarter. Nisa Investment Advisors LLC now owns 21,764 shares of the real estate investment trust’s stock worth $353,000 after buying an additional 5,998 shares during the period. CWA Asset Management Group LLC boosted its holdings in shares of Apple Hospitality REIT by 7.1% in the third quarter. CWA Asset Management Group LLC now owns 115,947 shares of the real estate investment trust’s stock worth $1,874,000 after buying an additional 7,692 shares during the period. Finally, Columbus Macro LLC boosted its holdings in shares of Apple Hospitality REIT by 6.0% in the third quarter. Columbus Macro LLC now owns 408,915 shares of the real estate investment trust’s stock worth $6,608,000 after buying an additional 23,069 shares during the period. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc is a self-administered and self-managed real estate investment trust that owns a portfolio of upscale, select-service hotels across the United States. The company’s properties primarily operate under well-known hospitality brands affiliated with Marriott International, Hilton Worldwide Holdings and Hyatt Hotels Corporation.

Apple Hospitality’s hotels provide lodging and related guest services, including accommodations, meeting facilities, food and beverage offerings, and other amenities.