Apple Hospitality REIT (NYSE:APLE) Downgraded by StockNews.com

Apple Hospitality REIT (NYSE:APLE) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Other analysts have also issued reports about the company. Wells Fargo & Company lowered their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Oppenheimer reiterated an “outperform” rating and set a $17.00 price target on shares of Apple Hospitality REIT in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.25.

Apple Hospitality REIT Price Performance

Shares of APLE stock traded up $0.21 during trading hours on Monday, reaching $15.11. 1,290,399 shares of the company were exchanged, compared to its average volume of 2,062,472. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 17.56 and a beta of 1.12. The stock’s fifty day moving average is $14.69 and its two-hundred day moving average is $14.63. Apple Hospitality REIT has a fifty-two week low of $13.60 and a fifty-two week high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.13). The firm had revenue of $390.08 million for the quarter, compared to analyst estimates of $388.82 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same period in the prior year, the company posted $0.49 EPS. Sell-side analysts forecast that Apple Hospitality REIT will post 1.61 earnings per share for the current fiscal year.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the acquisition, the chairman now directly owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Apple Hospitality REIT by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock worth $582,400,000 after acquiring an additional 1,217,142 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Apple Hospitality REIT by 17.2% during the second quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock worth $87,518,000 after purchasing an additional 881,217 shares during the last quarter. Edgestream Partners L.P. grew its position in Apple Hospitality REIT by 400.8% in the second quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust’s stock valued at $9,286,000 after purchasing an additional 511,100 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in Apple Hospitality REIT by 911.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 388,414 shares of the real estate investment trust’s stock valued at $5,648,000 after buying an additional 350,000 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. lifted its position in Apple Hospitality REIT by 3,768.4% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,156 shares of the real estate investment trust’s stock worth $5,062,000 after buying an additional 339,156 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

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.