Zacks Research Upgrades Apple Hospitality REIT (NYSE:APLE) to “Strong-Buy”

Apple Hospitality REIT (NYSE:APLE) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on APLE. JPMorgan Chase & Co. lifted their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday. LADENBURG THALM/SH SH increased their price target on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Bank of America lifted their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday. Barclays reaffirmed an “equal weight” rating and issued a $17.00 price target (up from $16.00) on shares of Apple Hospitality REIT in a report on Tuesday. Finally, Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.00.

Apple Hospitality REIT Stock Down 2.0%

Shares of APLE stock opened at $16.62 on Wednesday. Apple Hospitality REIT has a 1-year low of $10.85 and a 1-year high of $17.13. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 3.32 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s fifty day moving average price is $15.94 and its 200 day moving average price is $13.63.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $337.74 million during the quarter, compared to analyst estimates of $327.81 million. On average, research analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Insider Transactions at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the acquisition, the chairman directly owned 747,191 shares of the company’s stock, valued at $10,430,786.36. This represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Institutional Trading of Apple Hospitality REIT

A number of hedge funds have recently bought and sold shares of APLE. Norges Bank purchased a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at approximately $40,950,000. Centerbridge Partners L.P. increased its stake in Apple Hospitality REIT by 88.2% during the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock worth $50,123,000 after acquiring an additional 1,982,000 shares during the last quarter. UBS Group AG raised its position in Apple Hospitality REIT by 60.8% in the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock valued at $55,950,000 after purchasing an additional 1,786,018 shares during the period. Rush Island Management LP acquired a new position in shares of Apple Hospitality REIT in the 1st quarter valued at $17,143,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Apple Hospitality REIT during the 4th quarter worth about $13,361,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

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.