Apple Hospitality REIT (APLE) Stock Rating Upgraded by Zacks Investment Research
Apple Hospitality REIT (NYSE:APLE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Apple Hospitality REIT, Inc. is a real estate investment trust. Its portfolio consists of hotels, guest rooms and resorts. The company operates primarily in the United States. Apple Hospitality REIT, Inc. is headquarted in Richmond, VA. “
Several other equities research analysts also recently issued reports on APLE. B. Riley reissued a “neutral” rating on shares of Apple Hospitality REIT in a research report on Wednesday, November 1st. Canaccord Genuity reissued a “hold” rating and set a $19.00 price objective (down previously from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. BidaskClub downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Finally, Robert W. Baird set a $20.00 price objective on shares of Apple Hospitality REIT and gave the stock a “buy” rating in a research report on Sunday, October 29th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $19.67.
Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a net margin of 18.37% and a return on equity of 6.46%. The company had revenue of $324.90 million during the quarter, compared to the consensus estimate of $324.66 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. research analysts expect that Apple Hospitality REIT will post 1.74 EPS for the current fiscal year.
In other Apple Hospitality REIT news, insider Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, November 10th. The stock was acquired at an average price of $19.18 per share, for a total transaction of $95,900.00. Following the completion of the acquisition, the insider now owns 10,046,357 shares of the company’s stock, valued at approximately $192,689,127.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in APLE. Schroder Investment Management Group acquired a new position in Apple Hospitality REIT during the second quarter worth $102,000. Public Employees Retirement Association of Colorado lifted its stake in Apple Hospitality REIT by 26.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 1,393 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Apple Hospitality REIT by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 494 shares during the last quarter. IMS Capital Management acquired a new stake in Apple Hospitality REIT in the second quarter valued at $140,000. Finally, Ffcm LLC lifted its stake in Apple Hospitality REIT by 353.1% in the second quarter. Ffcm LLC now owns 8,374 shares of the real estate investment trust’s stock valued at $159,000 after acquiring an additional 6,526 shares during the last quarter. Institutional investors and hedge funds own 50.91% of the company’s stock.
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About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of October 23, 2017, the Company owned 238 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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