Apple Hospitality REIT (NYSE:APLE – Get Free Report) had its target price increased by JPMorgan Chase & Co. from $15.00 to $16.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 5.13% from the stock’s previous close.
Several other analysts have also recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, June 12th. Weiss Ratings raised Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Barclays restated an “equal weight” rating and set a $17.00 price objective (up from $16.00) on shares of Apple Hospitality REIT in a research report on Tuesday. Wells Fargo & Company raised their price objective on Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Finally, Cantor Fitzgerald boosted their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.75.
Get Our Latest Stock Analysis on APLE
Apple Hospitality REIT Price Performance
Apple Hospitality REIT (NYSE:APLE – Get Free Report) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The business had revenue of $337.74 million during the quarter, compared to analyst estimates of $327.81 million. Sell-side analysts expect that Apple Hospitality REIT will post 1.58 earnings per share for the current fiscal year.
Insider Transactions at Apple Hospitality REIT
In related news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the purchase, the chairman directly owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in shares of Apple Hospitality REIT by 295.9% in 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 during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Apple Hospitality REIT by 1,375.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 2,640 shares in the last quarter. Danske Bank A S bought a new stake in shares of Apple Hospitality REIT in the third quarter valued at about $36,000. Godfrey Financial Associates Inc. purchased a new stake in Apple Hospitality REIT in the fourth quarter worth about $43,000. Finally, Smartleaf Asset Management LLC grew its holdings in Apple Hospitality REIT by 97.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 1,872 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.
About Apple Hospitality REIT
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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