Apple Hospitality REIT (NYSE:APLE – Get Free Report) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Monday, MarketBeat reports. The brokerage presently has a $17.00 target price on the real estate investment trust’s stock, up from their prior target price of $16.00. Bank of America‘s target price points to a potential upside of 8.25% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective for the company. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.60.
Check Out Our Latest Stock Analysis on Apple Hospitality REIT
Apple Hospitality REIT Price Performance
Apple Hospitality REIT (NYSE:APLE – Get Free Report) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The company had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. During the same period in the prior year, the firm posted $0.45 EPS. As a group, analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.
Institutional Trading of Apple Hospitality REIT
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 780 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of Apple Hospitality REIT by 6.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust’s stock valued at $241,000 after acquiring an additional 921 shares in the last quarter. Ellis Investment Partners LLC increased its stake in 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 valued at $318,000 after acquiring an additional 948 shares during the period. Inspire Advisors LLC increased its stake in Apple Hospitality REIT by 8.2% in 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 period. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its position in Apple Hospitality REIT by 0.7% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 169,222 shares of the real estate investment trust’s stock worth $2,513,000 after purchasing an additional 1,105 shares in the last quarter. Hedge funds and other 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.
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