Cantor Fitzgerald Begins Coverage on Apple Hospitality REIT (NYSE:APLE)

Investment analysts at Cantor Fitzgerald started coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $14.00 price target on the real estate investment trust’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 15.75% from the stock’s current price.

APLE has been the subject of a number of other research reports. BMO Capital Markets lowered Apple Hospitality REIT from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $14.00 to $12.00 in a research note on Monday, June 9th. Wells Fargo & Company lifted their price target on shares of Apple Hospitality REIT from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 27th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

Apple Hospitality REIT Price Performance

APLE opened at $12.10 on Wednesday. Apple Hospitality REIT has a twelve month low of $10.44 and a twelve month high of $16.50. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 16.13 and a beta of 1.02. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $12.38 and a 200 day simple moving average of $12.12.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $384.37 million for the quarter, compared to analyst estimates of $381.37 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. Equities research analysts expect that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were bought at an average price of $12.29 per share, with a total value of $61,450.00. Following the completion of the acquisition, the chairman owned 705,344 shares in the company, valued at approximately $8,668,677.76. This represents a 0.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.10% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

Several large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its position in Apple Hospitality REIT by 9.4% during the 1st quarter. Victory Capital Management Inc. now owns 7,401,428 shares of the real estate investment trust’s stock worth $95,552,000 after acquiring an additional 633,688 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Apple Hospitality REIT by 1.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,401,005 shares of the real estate investment trust’s stock valued at $82,637,000 after purchasing an additional 80,591 shares in the last quarter. Nuveen LLC bought a new stake in shares of Apple Hospitality REIT during the first quarter valued at about $40,841,000. LSV Asset Management lifted its holdings in Apple Hospitality REIT by 8.8% in the second quarter. LSV Asset Management now owns 2,741,253 shares of the real estate investment trust’s stock worth $31,990,000 after purchasing an additional 221,976 shares during the period. Finally, Systematic Financial Management LP grew its position in Apple Hospitality REIT by 3.5% in the 2nd quarter. Systematic Financial Management LP now owns 2,255,552 shares of the real estate investment trust’s stock valued at $26,322,000 after buying an additional 75,638 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) 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 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.