Barclays Downgrades Apple Hospitality REIT (NYSE:APLE) to Hold

Apple Hospitality REIT (NYSE:APLEGet Free Report) was downgraded by equities researchers at Barclays from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other brokerages have also commented on APLE. LADENBURG THALM/SH SH raised their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Cantor Fitzgerald upped their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Bank of America raised their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday. Finally, BMO Capital Markets boosted their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, June 12th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.75.

View Our Latest Stock Report on Apple Hospitality REIT

Apple Hospitality REIT Stock Up 1.0%

Shares of NYSE:APLE opened at $17.07 on Tuesday. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $17.09. The stock has a market cap of $4.03 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 8.18 and a beta of 0.87. The business’s 50 day moving average is $15.83 and its 200 day moving average is $13.56. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54.

Apple Hospitality REIT (NYSE:APLEGet Free Report) last issued its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The business had revenue of $337.74 million during the quarter, compared to analyst estimates of $327.81 million. Sell-side analysts predict that Apple Hospitality REIT will post 1.59 EPS for the current year.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $13.96 per share, with a total value of $69,800.00. Following the completion of the transaction, the chairman owned 747,191 shares in the company, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Trading of Apple Hospitality REIT

A number of institutional investors have recently made changes to their positions in APLE. Palouse Capital Management Inc. boosted its position in Apple Hospitality REIT by 21.1% in the 2nd quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 750 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Apple Hospitality REIT by 7.9% during the 3rd quarter. Private Advisor Group LLC now owns 13,883 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 1,022 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Apple Hospitality REIT by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock valued at $2,764,000 after purchasing an additional 1,068 shares during the period. MML Investors Services LLC lifted its stake in shares of Apple Hospitality REIT by 1.4% in the 2nd quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock valued at $937,000 after purchasing an additional 1,100 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in Apple Hospitality REIT by 9.3% during the fourth quarter. Captrust Financial Advisors now owns 13,519 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 1,149 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

(Get Free Report)

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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