Weiss Ratings Reaffirms "Hold (C)" Rating for Apple Hospitality REIT (NYSE:APLE)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for Apple Hospitality REIT (NYSE:APLE), indicating a neutral outlook for the stock.
• Several analysts have varying ratings on APLE, with Cantor Fitzgerald initiating coverage with an "overweight" rating and a $14.00 price target, while Robert W. Baird reduced their price target to $13.00.
• As of recent trading, Apple Hospitality REIT's stock is priced at $11.59, down 0.5%, with a consensus price target of $14.50 among analysts.

Apple Hospitality REIT (NYSE:APLE - Get Free Report)'s stock had its "hold (c)" rating restated by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other brokerages also recently commented on APLE. Cantor Fitzgerald assumed coverage on shares of Apple Hospitality REIT in a research report on Wednesday, October 1st. They set an "overweight" rating and a $14.00 price objective on the stock. Robert W. Baird lowered their price objective on Apple Hospitality REIT from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, October 3rd. Finally, Wells Fargo & Company raised Apple Hospitality REIT to a "hold" rating in a research note on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Apple Hospitality REIT presently has an average rating of "Moderate Buy" and a consensus price target of $14.50.

Apple Hospitality REIT Stock Down 0.5%

Apple Hospitality REIT stock traded down $0.06 during mid-day trading on Wednesday, reaching $11.59. The stock had a trading volume of 2,335,383 shares, compared to its average volume of 2,826,306. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 15.45 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78. The company has a 50-day moving average price of $12.34 and a two-hundred day moving average price of $12.08. Apple Hospitality REIT has a one year low of $10.44 and a one year high of $16.50.

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 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 analyst estimates of $381.37 million. On average, analysts expect that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $12.29 per share, with a total value of $61,450.00. Following the completion of the purchase, the chairman owned 705,344 shares of the company's stock, valued at approximately $8,668,677.76. The trade was a 0.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.10% of the company's stock.

Institutional Trading of Apple Hospitality REIT

Several institutional investors and hedge funds have recently made changes to their positions in APLE. Hantz Financial Services Inc. lifted its position in shares of Apple Hospitality REIT by 12,230.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 2,446 shares during the period. NewEdge Advisors LLC boosted its position in 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 valued at $31,000 after acquiring an additional 1,814 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Apple Hospitality REIT by 444.4% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 2,280 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 2,640 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Apple Hospitality REIT by 97.5% during the second quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 1,872 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

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.

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