Apple Hospitality REIT (NYSE:APLE) Receives “Outperform” Rating from Oppenheimer

Apple Hospitality REIT (NYSE:APLE)‘s stock had its “outperform” rating reaffirmed by investment analysts at Oppenheimer in a report released on Friday,Benzinga reports. They currently have a $18.00 price target on the real estate investment trust’s stock, up from their prior price target of $17.00. Oppenheimer’s price target points to a potential upside of 13.71% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on APLE. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company cut their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Apple Hospitality REIT currently has an average rating of “Hold” and a consensus target price of $16.50.

Apple Hospitality REIT Stock Up 1.4 %

Apple Hospitality REIT stock traded up $0.22 during trading hours on Friday, hitting $15.83. 287,512 shares of the stock traded hands, compared to its average volume of 2,055,947. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $17.90. The firm’s 50-day moving average price is $14.81 and its two-hundred day moving average price is $14.63. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.84 billion, a PE ratio of 18.56 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.16% and a net margin of 14.53%. The firm had revenue of $378.84 million during the quarter, compared to analysts’ expectations of $377.56 million. During the same period in the previous year, the company earned $0.45 earnings per share. On average, research analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current year.

Hedge Funds Weigh In On Apple Hospitality REIT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in Apple Hospitality REIT by 40.4% during the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 780 shares during the period. Amalgamated Bank lifted its holdings in shares of Apple Hospitality REIT by 1.2% during the 2nd quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock valued at $996,000 after buying an additional 813 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Apple Hospitality REIT by 6.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 921 shares during the last quarter. Ellis Investment Partners LLC grew its holdings in shares of Apple Hospitality REIT by 4.6% in the third quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust’s stock worth $318,000 after acquiring an additional 948 shares during the period. Finally, Inspire Advisors LLC increased its position in Apple Hospitality REIT by 8.2% during the third quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 1,008 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.