Apple Hospitality REIT (NYSE:APLE) Price Target Raised to $17.00 at LADENBURG THALM/SH SH

Key Points

• LADENBURG THALM/SH SH raised its price target on Apple Hospitality REIT to $17.00 from $15.00, while keeping a neutral rating. The new target implies only modest upside from the current share price.
• Other analysts have also adjusted their views recently, with several lifting targets into the $15 to $16 range. Overall, the stock now carries a consensus Hold rating and a consensus price target of $14.94.
• Apple Hospitality REIT reported quarterly earnings that beat analyst expectations, posting $0.12 EPS on revenue of $337.74 million. Shares were trading near their 52-week high, and the company’s chairman also bought additional stock in May.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) had its price objective raised by LADENBURG THALM/SH SH from $15.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. LADENBURG THALM/SH SH's price objective would indicate a potential upside of 2.56% from the company's current price.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Apple Hospitality REIT in a report on Monday, June 1st. They set a "neutral" rating and a $15.00 price target on the stock. Barclays raised their target price on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the company an "overweight" rating in a research report on Monday, June 1st. BMO Capital Markets upped 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 report on Friday, June 12th. Wells Fargo & Company increased their price target on Apple Hospitality REIT from $12.00 to $15.00 and gave the company an "equal weight" rating in a research note on Monday, June 1st. Finally, Weiss Ratings raised Apple Hospitality REIT from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $14.94.

Apple Hospitality REIT Price Performance

Shares of APLE stock traded up $0.33 during trading hours on Thursday, reaching $16.57. The company's stock had a trading volume of 1,659,630 shares, compared to its average volume of 2,968,570. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $16.71. The firm's 50 day simple moving average is $14.11 and its 200-day simple moving average is $12.77. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 8.00 and a beta of 0.89.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. The company had revenue of $337.74 million during the quarter, compared to analysts' expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. Sell-side analysts forecast that Apple Hospitality REIT will post 1.58 earnings per share for the current year.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight bought 5,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $13.96 per share, with a total value of $69,800.00. Following the acquisition, the chairman owned 747,191 shares of the company's stock, valued at $10,430,786.36. This represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Apple Hospitality REIT by 2.8% during the 1st quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust's stock valued at $2,205,000 after purchasing an additional 4,712 shares during the period. AQR Capital Management LLC lifted its position in shares of Apple Hospitality REIT by 114.3% in the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust's stock worth $1,732,000 after purchasing an additional 72,553 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Apple Hospitality REIT by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust's stock worth $1,776,000 after purchasing an additional 6,788 shares during the period. NewEdge Advisors LLC lifted its position in shares of Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 1,814 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of Apple Hospitality REIT by 10,235.7% in the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust's stock valued at $280,000 after purchasing an additional 21,495 shares during the last quarter. 89.66% of the stock is currently owned by 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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