Apple Hospitality REIT (NYSE:APLE) Coverage Initiated at BMO Capital Markets

Research analysts at BMO Capital Markets began coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $18.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ target price points to a potential upside of 10.67% from the company’s current price.

A number of other brokerages have also recently weighed in on APLE. Oppenheimer restated an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company cut their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.80.

Apple Hospitality REIT Price Performance

Shares of APLE opened at $16.27 on Monday. The stock has a market cap of $3.90 billion, a PE ratio of 19.14 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT has a fifty-two week low of $13.60 and a fifty-two week high of $17.90. The firm’s 50-day simple moving average is $15.46 and its two-hundred day simple moving average is $14.81.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The business had revenue of $378.84 million during the quarter, compared to analysts’ expectations of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same quarter last year, the company posted $0.45 EPS. Analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its position in Apple Hospitality REIT by 11.9% in the third quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock worth $100,059,000 after acquiring an additional 718,844 shares during the period. Geode Capital Management LLC raised its position in Apple Hospitality REIT by 1.1% in the third quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock worth $85,571,000 after acquiring an additional 62,149 shares during the period. Charles Schwab Investment Management Inc. raised its position in Apple Hospitality REIT by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock worth $66,187,000 after acquiring an additional 182,917 shares during the period. Dimensional Fund Advisors LP raised its position in Apple Hospitality REIT by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after acquiring an additional 154,159 shares during the period. Finally, LSV Asset Management raised its position in Apple Hospitality REIT by 2.1% in the second quarter. LSV Asset Management now owns 2,572,043 shares of the real estate investment trust’s stock worth $37,398,000 after acquiring an additional 53,300 shares during the period. Institutional investors own 89.66% of the company’s stock.

About Apple Hospitality REIT

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.