Zacks Investment Research Upgrades Apple Hospitality REIT, Inc. (APLE) to Hold

Apple Hospitality REIT, Inc. (NYSE:APLE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Apple Hospitality REIT, Inc. is a real estate investment trust. Its portfolio consists of hotels, guest rooms and resorts. The company operates primarily in the United States. Apple Hospitality REIT, Inc. is headquarted in Richmond, VA. “

APLE has been the topic of a number of other reports. BidaskClub lowered shares of Apple Hospitality REIT from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Robert W. Baird reiterated an “outperform” rating and set a $21.00 price target on shares of Apple Hospitality REIT in a research note on Tuesday, July 4th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $19.00 price target (down from $20.00) on shares of Apple Hospitality REIT in a research note on Friday, August 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.00.

Apple Hospitality REIT (APLE) opened at 18.99 on Tuesday. The company has a 50-day moving average of $18.53 and a 200-day moving average of $18.68. The company has a market cap of $4.24 billion, a P/E ratio of 23.05 and a beta of 0.61. Apple Hospitality REIT has a 52 week low of $17.32 and a 52 week high of $20.68.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01). Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The firm had revenue of $331.70 million during the quarter, compared to analyst estimates of $335.94 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. Apple Hospitality REIT’s revenue for the quarter was up 28.7% compared to the same quarter last year. On average, equities research analysts predict that Apple Hospitality REIT will post $1.03 EPS for the current year.

TRADEMARK VIOLATION WARNING: This piece was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://sportsperspectives.com/2017/10/12/zacks-investment-research-upgrades-apple-hospitality-reit-inc-aple-to-hold.html.

In related news, insider Justin G. Knight purchased 17,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $17.62 per share, for a total transaction of $299,540.00. Following the purchase, the insider now directly owns 1,005,274 shares of the company’s stock, valued at $17,712,927.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Glade M. Knight purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $17.62 per share, for a total transaction of $352,400.00. Following the completion of the purchase, the chairman now directly owns 10,041,357 shares in the company, valued at $176,928,710.34. The disclosure for this purchase can be found here. Insiders have purchased a total of 45,000 shares of company stock worth $794,950 over the last quarter. 6.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. National Asset Management Inc. increased its stake in Apple Hospitality REIT by 1.0% in the first quarter. National Asset Management Inc. now owns 35,627 shares of the real estate investment trust’s stock valued at $682,000 after purchasing an additional 348 shares during the period. SG Americas Securities LLC increased its stake in Apple Hospitality REIT by 4.2% in the second quarter. SG Americas Securities LLC now owns 11,771 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 471 shares during the period. The Manufacturers Life Insurance Company increased its stake in Apple Hospitality REIT by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 494 shares during the period. GAM Holding AG increased its stake in Apple Hospitality REIT by 2.8% in the second quarter. GAM Holding AG now owns 18,100 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 500 shares during the period. Finally, Ken Stern & Associates Inc. increased its stake in Apple Hospitality REIT by 5.4% in the second quarter. Ken Stern & Associates Inc. now owns 12,606 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 647 shares during the period. Institutional investors own 49.18% of the company’s stock.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of September 13, 2017, the Company owned 237 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 33 states.

Receive News & Ratings for Apple Hospitality REIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Hospitality REIT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply