Apple Hospitality REIT (NYSE:APLE) Given a $18.50 Price Target at Compass Point

Key Points

• Compass Point initiated a bullish view on Apple Hospitality REIT with a $18.50 price target and “buy” rating, implying 15.26% upside from the reported $16.05 share price.
• Analyst sentiment remains mixed: Apple Hospitality has an overall “hold” consensus rating and an average target of $16.28, below Compass Point’s forecast.
• The REIT slightly beat quarterly expectations, reporting $0.28 in earnings per share versus the $0.27 estimate and revenue of $402.55 million versus $391.88 million expected. Institutional investors own 89.66% of the stock, while insiders hold 6.90%.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) has been given a $18.50 price objective by analysts at Compass Point in a report issued on Friday, MarketBeat reports. The brokerage presently has a "buy" rating on the real estate investment trust's stock. Compass Point's target price would indicate a potential upside of 15.26% from the stock's current price.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of Apple Hospitality REIT from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Barclays restated an "equal weight" rating and issued a $17.00 target price (up from $16.00) on shares of Apple Hospitality REIT in a report on Tuesday, July 21st. Cantor Fitzgerald increased their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Finally, BMO Capital Markets lifted their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a "market perform" rating in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Apple Hospitality REIT currently has an average rating of "Hold" and a consensus target price of $16.28.

Apple Hospitality REIT Trading Down 3.0%

NYSE:APLE opened at $16.05 on Friday. The stock has a 50-day simple moving average of $16.37 and a 200-day simple moving average of $13.93. The stock has a market cap of $3.79 billion, a P/E ratio of 21.69, a P/E/G ratio of 3.24 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 debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released 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. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%.The business had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. As a group, analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the transaction, the chairman owned 747,191 shares in the company, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Apple Hospitality REIT by 0.5% during the fourth quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust's stock worth $154,627,000 after buying an additional 68,794 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in 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 valued at $84,227,000 after acquiring an additional 127,327 shares during the last quarter. UBS Group AG raised its stake in 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 acquiring an additional 1,786,018 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Apple Hospitality REIT by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust's stock worth $55,871,000 after acquiring an additional 125,759 shares during the period. Finally, Centerbridge Partners L.P. lifted its position in Apple Hospitality REIT by 88.2% during the 4th quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust's stock worth $50,123,000 after acquiring an additional 1,982,000 shares during the period. 89.66% of the stock is owned by hedge funds and other institutional investors.

About Apple Hospitality REIT

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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