Apple Hospitality REIT (NYSE:APLE) Now Covered by Cantor Fitzgerald

Key Points

• Apple Hospitality REIT has been upgraded to a strong-buy rating by Cantor Fitzgerald, signaling increased analyst confidence in the stock.
• The company's average target price is now $14.80, with mixed ratings from analysts; one Strong Buy, two Buy, and two Hold ratings.
• Recent insider activity saw Chairman Glade M. Knight purchase 5,000 shares of the stock, indicating confidence in the company's future prospects.

Research analysts at Cantor Fitzgerald initiated coverage on shares of Apple Hospitality REIT (NYSE:APLE - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage set an "overweight" rating and a $14.00 price target on the real estate investment trust's stock. Cantor Fitzgerald's price target suggests a potential upside of 15.87% from the company's current price.

A number of other research analysts have also issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Apple Hospitality REIT from $12.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, August 27th. BMO Capital Markets cut shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $14.00 to $12.00 in a research report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.80.

Apple Hospitality REIT Stock Up 0.6%

Shares of NYSE:APLE opened at $12.08 on Wednesday. The company has a market capitalization of $2.86 billion, a PE ratio of 16.11 and a beta of 1.03. Apple Hospitality REIT has a 52-week low of $10.44 and a 52-week high of $16.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 0.78. The company has a fifty day moving average of $12.38 and a 200-day moving average of $12.13.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%.The business had revenue of $384.37 million during the quarter, compared to analysts' expectations of $381.37 million. On average, equities analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight purchased 5,000 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $12.29 per share, with a total value of $61,450.00. Following the completion of the transaction, the chairman owned 705,344 shares of the company's stock, valued at $8,668,677.76. The trade was a 0.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in Apple Hospitality REIT in the fourth quarter worth approximately $255,000. Versant Capital Management Inc grew its position in shares of Apple Hospitality REIT by 569.5% during the 1st quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust's stock worth $36,000 after buying an additional 2,386 shares during the period. GAMMA Investing LLC increased its stake in shares of Apple Hospitality REIT by 1,133.9% in the 1st quarter. GAMMA Investing LLC now owns 60,522 shares of the real estate investment trust's stock valued at $7,810,000 after acquiring an additional 55,617 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Apple Hospitality REIT by 20.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 184,016 shares of the real estate investment trust's stock valued at $2,376,000 after acquiring an additional 30,719 shares during the period. Finally, Sound Income Strategies LLC boosted its stake in Apple Hospitality REIT by 12.0% during the first quarter. Sound Income Strategies LLC now owns 1,016,816 shares of the real estate investment trust's stock worth $13,127,000 after acquiring an additional 108,833 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc NYSE: APLE is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.