Apple Hospitality REIT (NYSE:APLE) Stock Price Target Raised at JPMorgan Chase & Co.

Apple Hospitality REIT (NYSE:APLE) had its price target increased by JPMorgan Chase & Co. from $17.00 to $18.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 8.61% from the stock’s current price.

Several other research analysts also recently weighed in on APLE. Zacks Research downgraded shares of Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Compass Point upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $17.50 to $18.50 in a report on Friday, August 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Apple Hospitality REIT in a research note on Tuesday, November 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Apple Hospitality REIT in a report on Friday, August 21st. Finally, Wells Fargo & Company raised their target price on Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Monday, October 26th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.44.

Apple Hospitality REIT Price Performance

NYSE APLE traded up $0.81 on Monday, hitting $19.70. The company had a trading volume of 2,591,630 shares, compared to its average volume of 2,887,905. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.81 and a quick ratio of 0.81. The company’s fifty day moving average price is $16.71 and its 200-day moving average price is $14.80. The company has a market capitalization of $4.65 billion, a PE ratio of 24.91, a PEG ratio of 2.14 and a beta of 0.93. Apple Hospitality REIT has a 12-month low of $11.31 and a 12-month high of $19.82.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Thursday, November 5th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Apple Hospitality REIT had a net margin of 12.62% and a return on equity of 5.88%. The business had revenue of $398.33 million for the quarter, compared to the consensus estimate of $384.64 million. As a group, analysts predict that Apple Hospitality REIT will post 1.63 earnings per share for the current year.

Institutional Trading of Apple Hospitality REIT

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new position in shares of Apple Hospitality REIT during the 2nd quarter valued at about $26,774,000. Rush Island Management LP purchased a new stake in shares of Apple Hospitality REIT in the first quarter valued at about $17,143,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Apple Hospitality REIT during the first quarter worth about $3,126,000. Public Employees Retirement System of Ohio acquired a new stake in Apple Hospitality REIT during the second quarter worth about $4,215,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Apple Hospitality REIT during the second quarter worth about $3,952,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a real estate investment trust that owns a portfolio of hotels in the United States. Its properties primarily serve business and leisure travelers and operate in the upscale segment, including select-service and extended-stay formats.

The company’s hotels are affiliated with well-known hospitality brands, including Marriott, Hilton and Hyatt. Apple Hospitality REIT owns the real estate and works with hotel operators to manage day-to-day operations.

Formed in 2007, the company is headquartered in Richmond, Virginia.