Apple Hospitality REIT (NYSE:APLE) Rating Lowered to Hold at Barclays

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

A number of other research analysts have also recently commented on the company. BMO Capital Markets raised their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a research note on Friday, June 12th. Wells Fargo & Company increased their price target on shares of 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. Cantor Fitzgerald lifted their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Bank of America boosted their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.75.

Apple Hospitality REIT Stock Down 0.7%

Shares of NYSE APLE opened at $16.95 on Tuesday. The firm has a fifty day simple moving average of $15.89 and a two-hundred day simple moving average of $13.60. Apple Hospitality REIT has a 12 month low of $10.85 and a 12 month high of $17.13. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $4.00 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 3.37 and a beta of 0.87.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $327.81 million. Equities analysts expect that Apple Hospitality REIT will post 1.59 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $13.96 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Hedge funds have recently modified their holdings of the stock. Palouse Capital Management Inc. raised its stake in Apple Hospitality REIT by 21.1% during the second quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 750 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Apple Hospitality REIT by 15.5% in the 2nd quarter. GAMMA Investing LLC now owns 11,552 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 1,548 shares in the last quarter. Cozad Asset Management Inc. grew its stake in shares of Apple Hospitality REIT by 20.1% in the 1st quarter. Cozad Asset Management Inc. now owns 97,244 shares of the real estate investment trust’s stock worth $1,119,000 after buying an additional 16,269 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Apple Hospitality REIT by 6.0% in the 1st quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust’s stock worth $23,585,000 after buying an additional 115,575 shares during the last quarter. Finally, Amundi increased its holdings in shares of Apple Hospitality REIT by 2.8% in the 1st quarter. Amundi now owns 155,765 shares of the real estate investment trust’s stock worth $1,793,000 after buying an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

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.