Apple Hospitality REIT (NYSE:APLE) Stock Rating Lowered by Zacks Research

Apple Hospitality REIT (NYSE:APLE) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. BMO Capital Markets boosted their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, June 12th. Bank of America increased 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, July 20th. Weiss Ratings raised Apple Hospitality REIT from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Compass Point raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their price objective for the company from $17.50 to $18.50 in a research report on Friday, August 7th. Finally, Wells Fargo & Company boosted their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $16.50.

Apple Hospitality REIT Price Performance

NYSE APLE opened at $16.54 on Thursday. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $17.28. The stock’s 50-day moving average is $16.51 and its two-hundred day moving average is $14.39. The firm has a market cap of $3.90 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 3.14 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%.The business had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. On average, analysts anticipate that Apple Hospitality REIT will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in shares of Apple Hospitality REIT by 6.0% in the first quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust’s stock valued at $23,585,000 after buying an additional 115,575 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Apple Hospitality REIT by 19.6% in the fourth quarter. Hsbc Holdings PLC now owns 374,968 shares of the real estate investment trust’s stock worth $4,443,000 after acquiring an additional 61,354 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Apple Hospitality REIT during the first quarter worth approximately $1,123,000. UBS Group AG grew its stake in shares of Apple Hospitality REIT by 60.8% during the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock valued at $55,950,000 after purchasing an additional 1,786,018 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Apple Hospitality REIT in the first quarter valued at approximately $702,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

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.