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 research note issued to investors on Tuesday,Zacks.com reports.

APLE has been the subject of several other reports. Weiss Ratings raised Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. LADENBURG THALM/SH SH lifted their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. upped their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday. Cantor Fitzgerald increased their target price 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. Finally, BMO Capital Markets raised their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Apple Hospitality REIT has a consensus rating of “Hold” and an average target price of $15.75.

Apple Hospitality REIT Trading Up 1.0%

Shares of NYSE:APLE opened at $17.07 on Tuesday. The business’s 50 day moving average price is $15.83 and its 200-day moving average price is $13.56. Apple Hospitality REIT has a 1 year low of $10.85 and a 1 year high of $17.09. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 8.18 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.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $337.74 million for the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. On average, equities research analysts forecast that Apple Hospitality REIT will post 1.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the transaction, the chairman owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Apple Hospitality REIT

Several large investors have recently modified their holdings of APLE. Palouse Capital Management Inc. lifted its position in Apple Hospitality REIT by 21.1% in 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 buying an additional 750 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Apple Hospitality REIT by 7.9% in the 3rd quarter. Private Advisor Group LLC now owns 13,883 shares of the real estate investment trust’s stock valued at $167,000 after acquiring an additional 1,022 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Apple Hospitality REIT by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock worth $2,764,000 after acquiring an additional 1,068 shares during the last quarter. MML Investors Services LLC boosted its position in shares of Apple Hospitality REIT by 1.4% during the 2nd quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 1,100 shares during the period. Finally, Captrust Financial Advisors increased its holdings in Apple Hospitality REIT by 9.3% in the 4th quarter. Captrust Financial Advisors now owns 13,519 shares of the real estate investment trust’s stock valued at $160,000 after purchasing an additional 1,149 shares during 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.