Apple Hospitality REIT (NYSE:APLE) Stock Price Expected to Rise, LADENBURG THALM/SH SH Analyst Says

Key Points

• LADENBURG THALM/SH SH raised its price target on Apple Hospitality REIT from $18 to $19 but maintained a neutral rating; the target implies 3.05% downside from the prior close.
• Analyst sentiment remains cautious overall: MarketBeat reports a consensus Hold rating and an average price target of $17.69.
• Apple Hospitality REIT beat quarterly expectations, reporting EPS of $0.26 versus $0.22 forecast and revenue of $398.33 million versus $384.64 million estimated.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) had its target price boosted by investment analysts at LADENBURG THALM/SH SH from $18.00 to $19.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. LADENBURG THALM/SH SH's price objective suggests a potential downside of 3.05% from the stock's previous close.

APLE has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on Apple Hospitality REIT from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday. Barclays raised their target price on Apple Hospitality REIT from $17.00 to $18.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 13th. Bank of America lifted their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Compass Point upgraded shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and upped their price target for the stock from $17.50 to $18.50 in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Apple Hospitality REIT in a report on Tuesday, November 3rd. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $17.69.

Apple Hospitality REIT Stock Performance

NYSE APLE traded up $0.72 during trading on Monday, hitting $19.60. The company's stock had a trading volume of 4,355,887 shares, compared to its average volume of 2,896,978. The firm has a 50 day moving average price of $16.71 and a 200 day moving average price of $14.80. The firm has a market cap of $4.63 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.50. Apple Hospitality REIT has a 52 week low of $11.31 and a 52 week high of $19.82.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Apple Hospitality REIT had a return on equity of 5.88% and a net margin of 12.62%. The firm had revenue of $398.33 million for the quarter, compared to analyst estimates of $384.64 million. Equities research analysts forecast that Apple Hospitality REIT will post 1.63 earnings per share for the current fiscal year.

Institutional Trading of Apple Hospitality REIT

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Apple Hospitality REIT by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,254,332 shares of the real estate investment trust's stock valued at $37,458,000 after purchasing an additional 56,555 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Apple Hospitality REIT by 6.0% in the 1st quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust's stock valued at $23,585,000 after purchasing an additional 115,575 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Apple Hospitality REIT in the 2nd quarter valued at $26,774,000. Rush Island Management LP bought a new position in shares of Apple Hospitality REIT in the 1st quarter valued at $17,143,000. Finally, Principal Financial Group Inc. increased its stake in shares of Apple Hospitality REIT by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,069,472 shares of the real estate investment trust's stock valued at $12,310,000 after purchasing an additional 20,691 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company's stock.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a real estate investment trust that owns a portfolio of hotels in the United States. Its properties primarily serve business and leisure travelers and operate in the upscale segment, including select-service and extended-stay formats.

The company's hotels are affiliated with well-known hospitality brands, including Marriott, Hilton and Hyatt. Apple Hospitality REIT owns the real estate and works with hotel operators to manage day-to-day operations.

Formed in 2007, the company is headquartered in Richmond, Virginia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.