Apple Hospitality REIT (NYSE:APLE) Now Covered by Analysts at LADENBURG THALM/SH SH

Analysts at LADENBURG THALM/SH SH started coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a report released on Thursday. The brokerage set a “neutral” rating and a $13.00 price target on the real estate investment trust’s stock. LADENBURG THALM/SH SH’s target price points to a potential upside of 8.54% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of Apple Hospitality REIT in a report on Tuesday, March 3rd. Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Barclays initiated coverage on shares of Apple Hospitality REIT in a research report on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.79.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $11.98 on Thursday. The firm has a 50-day simple moving average of $12.11 and a 200-day simple moving average of $11.98. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 16.19 and a beta of 0.81. Apple Hospitality REIT has a 52 week low of $10.44 and a 52 week high of $13.45.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.16). The business had revenue of $326.44 million for the quarter, compared to analyst estimates of $322.60 million. Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%. On average, equities analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Apple Hospitality REIT

Several large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its holdings in Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,814 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,640 shares during the period. Cloud Capital Management LLC acquired a new stake in shares of Apple Hospitality REIT in the third quarter valued at $34,000. Danske Bank A S purchased a new stake in shares of Apple Hospitality REIT in the 3rd quarter valued at $36,000. Finally, Godfrey Financial Associates Inc. purchased a new position in Apple Hospitality REIT during the 4th quarter valued at about $43,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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.