Apple Hospitality REIT (NYSE:APLE) Stock Price Expected to Rise, Bank of America Analyst Says

Apple Hospitality REIT (NYSE:APLE) had its price objective hoisted by stock analysts at Bank of America from $15.00 to $16.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Bank of America‘s price objective would indicate a potential downside of 5.91% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. began coverage on shares of Apple Hospitality REIT in a research report on Monday, June 1st. They set a “neutral” rating and a $15.00 target price on the stock. LADENBURG THALM/SH SH increased their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. BMO Capital Markets lifted their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, June 12th. Finally, Wells Fargo & Company boosted their price target on Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $15.50.

Apple Hospitality REIT Stock Performance

Shares of APLE stock traded up $0.17 during trading hours on Monday, reaching $17.00. 895,758 shares of the company’s stock were exchanged, compared to its average volume of 2,983,192. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50 day moving average is $15.70 and its two-hundred day moving average is $13.49. The company has a market cap of $4.01 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 8.22 and a beta of 0.87. Apple Hospitality REIT has a 1 year low of $10.85 and a 1 year high of $17.09.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The firm had revenue of $337.74 million for the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. Equities research analysts anticipate that Apple Hospitality REIT will post 1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State Street Corp grew its holdings in Apple Hospitality REIT by 0.5% during the 4th quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust’s stock valued at $154,627,000 after buying an additional 68,794 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Apple Hospitality REIT by 1.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust’s stock valued at $84,227,000 after acquiring an additional 127,327 shares in the last quarter. UBS Group AG boosted 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 acquiring an additional 1,786,018 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Apple Hospitality REIT by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust’s stock valued at $55,871,000 after acquiring an additional 125,759 shares during the last quarter. Finally, Centerbridge Partners L.P. increased its position in Apple Hospitality REIT by 88.2% during the 4th quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock worth $50,123,000 after purchasing an additional 1,982,000 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

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.