Cantor Fitzgerald Reaffirms Overweight Rating for Apple Hospitality REIT (NYSE:APLE)

Apple Hospitality REIT (NYSE:APLE)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $14.00 price target on the real estate investment trust’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 12.63% from the company’s current price.

Several other analysts have also issued reports on the stock. Bank of America lowered shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price target for the company. in a research report on Tuesday, November 4th. Barclays began coverage on Apple Hospitality REIT in a research note on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 target price for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Friday, December 26th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.92.

Apple Hospitality REIT Stock Up 2.1%

Shares of APLE opened at $12.43 on Tuesday. Apple Hospitality REIT has a 1 year low of $10.44 and a 1 year high of $14.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50 day simple moving average of $12.18 and a two-hundred day simple moving average of $12.08. The firm has a market cap of $2.93 billion, a P/E ratio of 16.80 and a beta of 0.81.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.16). Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%.The business had revenue of $326.44 million for the quarter, compared to analysts’ expectations of $322.60 million. On average, analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction dated Thursday, December 11th. The shares were purchased at an average cost of $11.91 per share, with a total value of $59,550.00. Following the completion of the purchase, the chairman owned 710,344 shares of the company’s stock, valued at approximately $8,460,197.04. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APLE. Hantz Financial Services Inc. raised its holdings in Apple Hospitality REIT by 12,230.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 2,446 shares in the last quarter. NewEdge Advisors LLC raised its stake in Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Apple Hospitality REIT by 1,375.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,640 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Apple Hospitality REIT during the 3rd quarter valued at approximately $34,000. Finally, Danske Bank A S purchased a new position in shares of Apple Hospitality REIT during the 3rd quarter worth approximately $36,000. 89.66% of the stock is owned by hedge funds and other institutional investors.

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.