Apple Hospitality REIT (NYSE:APLE) Upgraded at Barclays

Apple Hospitality REIT (NYSE:APLE) was upgraded by Barclays to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on APLE. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. 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 for the company. Robert W. Baird decreased their target price on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, Bank of America cut Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price target on the stock. in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Moderate Buy” and an average price target of $12.92.

Apple Hospitality REIT Stock Down 1.7%

Shares of NYSE APLE opened at $12.09 on Tuesday. Apple Hospitality REIT has a 52 week low of $10.44 and a 52 week high of $16.01. The business has a 50-day simple moving average of $11.82 and a two-hundred day simple moving average of $12.04. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.86 billion, a P/E ratio of 16.55 and a beta of 0.85.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. Apple Hospitality REIT had a return on equity of 5.46% and a net margin of 12.37%.The firm had revenue of $373.88 million for the quarter, compared to analysts’ expectations of $371.94 million. Research analysts anticipate 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 purchased 5,000 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was purchased at an average price of $11.91 per share, with a total value of $59,550.00. Following the completion of the purchase, the chairman directly owned 710,344 shares in the company, valued at approximately $8,460,197.04. This trade represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 8,000 shares of company stock worth $95,180 over the last three months. Insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of large investors have recently modified their holdings of APLE. Arrowstreet Capital Limited Partnership grew its stake in shares of Apple Hospitality REIT by 285.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,350,787 shares of the real estate investment trust’s stock worth $15,764,000 after purchasing an additional 1,000,214 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Apple Hospitality REIT in the 2nd quarter worth about $1,794,000. Strs Ohio bought a new stake in shares of Apple Hospitality REIT during the 1st quarter valued at about $4,395,000. Harbor Capital Advisors Inc. increased its position in shares of Apple Hospitality REIT by 12.8% during the second quarter. Harbor Capital Advisors Inc. now owns 207,499 shares of the real estate investment trust’s stock valued at $2,422,000 after buying an additional 23,483 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its stake in Apple Hospitality REIT by 34.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 92,006 shares of the real estate investment trust’s stock worth $1,074,000 after buying an additional 23,761 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

About Apple Hospitality REIT

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.