Zacks Research Upgrades Apple Hospitality REIT (NYSE:APLE) to “Strong-Buy”

Apple Hospitality REIT (NYSE:APLE) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

APLE has been the subject of a number of other research reports. Barclays reaffirmed an “equal weight” rating and set a $17.00 price objective (up from $16.00) on shares of Apple Hospitality REIT in a research report on Tuesday. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Bank of America lifted their target price on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday. Cantor Fitzgerald upped their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Finally, Wells Fargo & Company increased their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Apple Hospitality REIT has a consensus rating of “Hold” and an average price target of $16.00.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock opened at $16.62 on Wednesday. The company has a market cap of $3.92 billion, a PE ratio of 22.76, a P/E/G ratio of 3.32 and a beta of 0.87. The company has a fifty day moving average price of $15.94 and a two-hundred day moving average price of $13.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. Apple Hospitality REIT has a 12 month low of $10.85 and a 12 month high of $17.13.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $337.74 million for the quarter, compared to analysts’ expectations of $327.81 million. Research analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the acquisition, the chairman directly owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

Several hedge funds and other institutional investors have recently bought and sold shares of APLE. Palouse Capital Management Inc. grew its stake in shares of Apple Hospitality REIT by 21.1% in the 2nd quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock valued at $72,000 after buying an additional 750 shares in the last quarter. Private Advisor Group LLC increased its holdings in Apple Hospitality REIT by 7.9% in the third quarter. Private Advisor Group LLC now owns 13,883 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 1,022 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Apple Hospitality REIT by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock valued at $2,764,000 after acquiring an additional 1,068 shares in the last quarter. MML Investors Services LLC raised its position in Apple Hospitality REIT by 1.4% during the second quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock valued at $937,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in Apple Hospitality REIT by 9.3% in the fourth quarter. Captrust Financial Advisors now owns 13,519 shares of the real estate investment trust’s stock valued at $160,000 after acquiring an additional 1,149 shares during the last quarter. 89.66% of the stock is currently owned by 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.