Wells Fargo & Company Issues Positive Forecast for Apple Hospitality REIT (NYSE:APLE) Stock Price

Apple Hospitality REIT (NYSE:APLE) had its price target raised by equities research analysts at Wells Fargo & Company from $12.00 to $15.00 in a 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 objective indicates a potential upside of 2.21% from the stock’s current price.

Other analysts have also issued research reports about the company. Barclays reiterated an “overweight” rating and set a $16.00 target price on shares of Apple Hospitality REIT in a report on Monday. Weiss Ratings raised Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Cantor Fitzgerald upped their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. began coverage on shares of Apple Hospitality REIT in a report on Monday. They set a “neutral” rating and a $15.00 target price on the stock. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They set a “neutral” rating and a $13.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.94.

Apple Hospitality REIT Stock Down 0.1%

Shares of NYSE:APLE traded down $0.02 during mid-day trading on Monday, reaching $14.68. 251,193 shares of the stock were exchanged, compared to its average volume of 2,952,422. The company has a market cap of $3.46 billion, a P/E ratio of 20.10 and a beta of 0.89. The stock’s 50 day simple moving average is $13.06 and its 200-day simple moving average is $12.40. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. Apple Hospitality REIT has a one year low of $10.85 and a one year high of $15.07.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The business had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. As a group, equities research analysts predict that Apple Hospitality REIT will post 1.55 EPS for the current year.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the purchase, the chairman owned 747,191 shares of the company’s stock, valued at $10,430,786.36. The trade was a 0.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of large investors have recently added to or reduced their stakes in APLE. Centerbridge Partners L.P. grew its position in Apple Hospitality REIT by 18.4% during the third quarter. Centerbridge Partners L.P. now owns 2,247,785 shares of the real estate investment trust’s stock worth $26,996,000 after buying an additional 350,000 shares in the last quarter. Waterfall Asset Management LLC lifted its position in Apple Hospitality REIT by 82.5% in the 3rd quarter. Waterfall Asset Management LLC now owns 730,000 shares of the real estate investment trust’s stock worth $8,767,000 after buying an additional 330,000 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Apple Hospitality REIT by 10.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 972,074 shares of the real estate investment trust’s stock worth $11,675,000 after acquiring an additional 94,630 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Apple Hospitality REIT by 91.9% in the 4th quarter. SG Americas Securities LLC now owns 109,512 shares of the real estate investment trust’s stock valued at $1,298,000 after purchasing an additional 52,446 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Apple Hospitality REIT in the 3rd quarter valued at $1,013,000. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

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.