Barclays Issues Pessimistic Forecast for Apple Hospitality REIT (NYSE:APLE) Stock Price

Key Points

• Barclays cut its price target on Apple Hospitality REIT from $14.00 to $13.00 while keeping an "overweight" rating, implying roughly a 12.6% upside from the stock's recent $11.55 price.
• The REIT reported a quarterly EPS miss ($0.13 vs. $0.29 estimate) though revenue slightly beat expectations, and the sell-side consensus remains a "Hold" with a $12.64 average target.
• Institutional ownership is very high at 89.66%, with major holders like State Street, UBS and Centerbridge notably increasing their stakes in the fourth quarter.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) had its target price dropped by equities research analysts at Barclays from $14.00 to $13.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. Barclays's price objective would suggest a potential upside of 12.60% from the stock's current price.

Several other equities research analysts have also recently commented on APLE. Cantor Fitzgerald restated an "overweight" rating and issued a $14.00 target price on shares of Apple Hospitality REIT in a research note on Tuesday, March 3rd. Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 24th. LADENBURG THALM/SH SH initiated coverage on Apple Hospitality REIT in a research note on Thursday, March 26th. They set a "neutral" rating and a $13.00 price objective on the stock. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $12.64.

Apple Hospitality REIT Stock Down 0.4%

NYSE APLE traded down $0.05 during trading on Tuesday, hitting $11.55. The stock had a trading volume of 1,494,013 shares, compared to its average volume of 2,613,338. The company has a market capitalization of $2.72 billion, a PE ratio of 15.59 and a beta of 0.82. The company's 50-day moving average price is $11.99 and its two-hundred day moving average price is $11.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.40 and a current ratio of 0.40. Apple Hospitality REIT has a 12 month low of $10.44 and a 12 month high of $13.27.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.16). The firm had revenue of $326.44 million during the quarter, compared to the consensus estimate of $322.60 million. Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. As a group, sell-side analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current year.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in Apple Hospitality REIT by 0.5% in the 4th quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust's stock valued at $154,627,000 after acquiring an additional 68,794 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Apple Hospitality REIT by 1.8% in 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 period. UBS Group AG raised its stake in Apple Hospitality REIT by 60.8% in 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 period. Charles Schwab Investment Management Inc. raised its stake in 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 acquiring an additional 125,759 shares during the period. Finally, Centerbridge Partners L.P. raised its stake in Apple Hospitality REIT by 88.2% in the 4th quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust's stock valued at $50,123,000 after acquiring an additional 1,982,000 shares during the period. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.