Apple Hospitality REIT (NYSE:APLE) Lowered to Market Perform Rating by BMO Capital Markets

Apple Hospitality REIT (NYSE:APLE - Get Free Report) was downgraded by BMO Capital Markets from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. They currently have a $12.00 price objective on the real estate investment trust's stock, down from their previous price objective of $14.00. BMO Capital Markets' target price points to a potential upside of 3.36% from the stock's previous close.

Separately, Wells Fargo & Company lowered their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $15.75.

Apple Hospitality REIT Stock Performance

Shares of APLE stock traded down $0.04 during midday trading on Monday, hitting $11.61. 4,018,181 shares of the company were exchanged, compared to its average volume of 2,300,846. The firm has a market capitalization of $2.76 billion, a P/E ratio of 13.66 and a beta of 1.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT has a 52 week low of $10.44 and a 52 week high of $16.50. The firm's 50 day moving average price is $11.70 and its two-hundred day moving average price is $13.80.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $327.70 million for the quarter, compared to the consensus estimate of $332.86 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. As a group, equities research analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Insider Buying and Selling

In other news, Chairman Glade M. Knight acquired 10,000 shares of Apple Hospitality REIT stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $11.43 per share, for a total transaction of $114,300.00. Following the completion of the purchase, the chairman now directly owns 700,344 shares of the company's stock, valued at approximately $8,004,931.92. This represents a 1.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased 12,000 shares of company stock valued at $137,120 over the last 90 days. 7.10% of the stock is owned by corporate insiders.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors and hedge funds have recently made changes to their positions in APLE. Aster Capital Management DIFC Ltd bought a new stake in Apple Hospitality REIT during the fourth quarter worth $31,000. NewEdge Advisors LLC raised its holdings in shares of Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock worth $31,000 after buying an additional 1,814 shares in the last quarter. Versant Capital Management Inc lifted 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 last quarter. Quarry LP boosted its stake in Apple Hospitality REIT by 128.1% in the fourth quarter. Quarry LP now owns 3,118 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 1,751 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in Apple Hospitality REIT in the fourth quarter valued at about $51,000. Institutional investors own 89.66% of the company's stock.

About Apple Hospitality REIT

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.