Apple Hospitality REIT (NYSE:APLE) Given New $16.00 Price Target at BMO Capital Markets

Apple Hospitality REIT (NYSE:APLE) had its price objective hoisted by equities research analysts at BMO Capital Markets from $14.00 to $16.00 in a note issued to investors on Friday, Marketbeat.com reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price objective would suggest a potential downside of 1.63% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Apple Hospitality REIT in a research note on Monday, June 1st. They issued a “neutral” rating and a $15.00 price objective on the stock. Barclays boosted their target price on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. LADENBURG THALM/SH SH assumed coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They set a “neutral” rating and a $13.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus target price of $14.44.

Apple Hospitality REIT Stock Performance

NYSE APLE traded up $0.11 during trading hours on Friday, reaching $16.27. The stock had a trading volume of 82,504 shares, compared to its average volume of 2,964,068. The stock has a fifty day moving average of $13.74 and a 200 day moving average of $12.65. The stock has a market cap of $3.84 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 7.75 and a beta of 0.89. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $16.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80.

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 (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 analyst estimates of $327.81 million. Sell-side analysts predict that Apple Hospitality REIT will post 1.58 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the purchase, the chairman owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. This represents a 0.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of Apple Hospitality REIT by 2.8% during the 1st quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock worth $2,205,000 after purchasing an additional 4,712 shares during the last quarter. AQR Capital Management LLC lifted its stake in Apple Hospitality REIT by 114.3% in the first quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock worth $1,732,000 after acquiring an additional 72,553 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Apple Hospitality REIT by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock worth $1,776,000 after purchasing an additional 6,788 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,814 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Apple Hospitality REIT by 10,235.7% during the first quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock worth $280,000 after purchasing an additional 21,495 shares in the last quarter. Institutional investors and hedge funds 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.