Apple Hospitality REIT (NYSE:APLE) Stock Price Target Raised at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised Apple Hospitality REIT’s price target from $18 to $22 and maintained an “overweight” rating, implying 12.26% upside from the prior close.
• Analyst sentiment overall remains cautious: MarketBeat reports an average “Hold” rating and an average price target of $18.19, with three Buy and seven Hold ratings.
• Apple Hospitality REIT beat quarterly estimates, reporting EPS of $0.26 versus $0.22 expected and revenue of $398.33 million versus $384.64 million expected.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) had its price objective raised by research analysts at Cantor Fitzgerald from $18.00 to $22.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the real estate investment trust's stock. Cantor Fitzgerald's price target would indicate a potential upside of 12.26% from the company's previous close.

APLE has been the subject of several other research reports. Compass Point raised shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $17.50 to $18.50 in a report on Friday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday. Wells Fargo & Company increased their price objective on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an "equal weight" rating in a report on Monday, October 26th. Zacks Research cut shares of Apple Hospitality REIT from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 27th. Finally, LADENBURG THALM/SH SH boosted their target price on shares of Apple Hospitality REIT from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Monday. Three research 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 company presently has an average rating of "Hold" and an average target price of $18.19.

Apple Hospitality REIT Price Performance

Shares of Apple Hospitality REIT stock opened at $19.60 on Tuesday. The firm has a market cap of $4.63 billion, a PE ratio of 24.81, a P/E/G ratio of 2.14 and a beta of 0.93. Apple Hospitality REIT has a twelve month low of $11.31 and a twelve month high of $19.82. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $16.78 and a 200 day moving average price of $14.84.

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, topping analysts' consensus estimates of $0.22 by $0.04. The company had revenue of $398.33 million for the quarter, compared to the consensus estimate of $384.64 million. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. Sell-side analysts predict that Apple Hospitality REIT will post 1.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of hedge funds have recently modified their holdings of the business. Compass Financial Management LLC acquired a new position in Apple Hospitality REIT during the second quarter worth about $56,000. Nykredit A S acquired a new stake in Apple Hospitality REIT in the 2nd quarter valued at about $62,000. Allworth Financial LP lifted its stake in Apple Hospitality REIT by 69.7% in the 2nd quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust's stock worth $64,000 after purchasing an additional 1,569 shares in the last quarter. Palouse Capital Management Inc. lifted its stake in Apple Hospitality REIT by 21.1% in the 2nd quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust's stock worth $72,000 after purchasing an additional 750 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Apple Hospitality REIT by 35.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,949 shares of the real estate investment trust's stock worth $112,000 after purchasing an additional 1,813 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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.

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