Apple Hospitality REIT (NYSE:APLE) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Apple Hospitality REIT from “strong buy” to “hold,” contributing to an overall analyst consensus of “hold.” The average price target is $16.50.
• APLE shares opened at $16.54, up 0.7%, near the analyst average target and below the 52-week high of $17.28. The company recently exceeded quarterly expectations, reporting $0.28 in EPS and $402.55 million in revenue.
• Institutional investors own 89.66% of the company, with several major investment firms increasing their stakes. Apple Hospitality REIT operates more than 200 upscale, select-service hotels with over 30,000 rooms.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Thursday,Zacks.com reports.

A number of other equities research analysts have also issued reports on APLE. Wells Fargo & Company boosted their target price on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. BMO Capital Markets increased their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a "market perform" rating in a research report on Friday, June 12th. Barclays reissued an "equal weight" rating and issued a $17.00 price target (up from $16.00) on shares of Apple Hospitality REIT in a research note on Tuesday, July 21st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Apple Hospitality REIT in a research note on Friday, August 21st. Finally, Bank of America raised their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Apple Hospitality REIT currently has an average rating of "Hold" and an average price target of $16.50.

Apple Hospitality REIT Trading Up 0.7%

Shares of NYSE:APLE opened at $16.54 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 3.14 and a beta of 0.88. Apple Hospitality REIT has a 1-year low of $10.85 and a 1-year high of $17.28. The company has a 50 day moving average price of $16.51 and a 200 day moving average price of $14.39.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The company had revenue of $402.55 million during the quarter, compared to the consensus estimate of $391.88 million. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. On average, research analysts anticipate that Apple Hospitality REIT will post 1.64 EPS for the current fiscal year.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors have recently bought and sold shares of APLE. State Street Corp grew its stake in Apple Hospitality REIT by 0.5% in the fourth quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust's stock valued at $154,627,000 after purchasing an additional 68,794 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Apple Hospitality REIT by 1.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust's stock worth $84,227,000 after purchasing an additional 127,327 shares in the last quarter. UBS Group AG lifted its holdings in shares of Apple Hospitality REIT by 60.8% during the 4th quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust's stock valued at $55,950,000 after buying an additional 1,786,018 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Apple Hospitality REIT by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust's stock valued at $55,871,000 after buying an additional 125,759 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Apple Hospitality REIT by 1,443.2% in the 2nd quarter. California State Teachers Retirement System now owns 4,293,039 shares of the real estate investment trust's stock valued at $72,166,000 after buying an additional 4,014,854 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT NYSE: APLE is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company's portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company's holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.

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