Apple Hospitality REIT (NYSE:APLE – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm currently has a $18.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 2.68% from the stock’s current price.
According to Zacks, “Apple Hospitality REIT, Inc. is a real estate investment trust. Its portfolio consists of hotels, guest rooms and resorts. The company operates primarily in the United States. Apple Hospitality REIT, Inc. is headquarted in Richmond, VA. “
Other equities analysts have also issued reports about the stock. TheStreet lowered shares of Apple Hospitality REIT from a “b-” rating to a “c” rating in a report on Thursday, April 7th. Barclays boosted their price objective on shares of Apple Hospitality REIT from $19.00 to $21.00 in a research report on Tuesday, March 1st. Finally, StockNews.com started coverage on Apple Hospitality REIT in a report on Thursday, March 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Apple Hospitality REIT has a consensus rating of “Hold” and an average target price of $18.67.
In other news, Director Howard E. Woolley purchased 1,670 shares of the company’s stock in a transaction dated Monday, March 14th. The stock was bought at an average cost of $17.96 per share, for a total transaction of $29,993.20. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of APLE. Barclays PLC boosted its position in Apple Hospitality REIT by 31.6% during the 3rd quarter. Barclays PLC now owns 500,411 shares of the real estate investment trust’s stock worth $7,872,000 after buying an additional 120,248 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Apple Hospitality REIT by 3.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,941 shares of the real estate investment trust’s stock valued at $2,115,000 after acquiring an additional 4,849 shares during the last quarter. Strs Ohio raised its stake in shares of Apple Hospitality REIT by 0.9% during the third quarter. Strs Ohio now owns 287,380 shares of the real estate investment trust’s stock valued at $4,520,000 after acquiring an additional 2,562 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of Apple Hospitality REIT by 10.1% during the third quarter. Keybank National Association OH now owns 85,065 shares of the real estate investment trust’s stock worth $1,338,000 after purchasing an additional 7,815 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Apple Hospitality REIT by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,172,659 shares of the real estate investment trust’s stock worth $49,909,000 after purchasing an additional 71,534 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.
Apple Hospitality REIT Company Profile (Get Rating)
Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (ÂREITÂ) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states.
- Get a free copy of the StockNews.com research report on Apple Hospitality REIT (APLE)
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