Wells Fargo & Company Issues Pessimistic Forecast for Apple Hospitality REIT (NYSE:APLE) Stock Price

Apple Hospitality REIT (NYSE:APLE) had its price target lowered by equities researchers at Wells Fargo & Company from $17.00 to $16.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 4.97% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price for the company. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their target price for the stock from $16.00 to $17.00 in a research report on Monday, January 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.80.

Apple Hospitality REIT Price Performance

Shares of Apple Hospitality REIT stock opened at $15.24 on Tuesday. The company’s fifty day simple moving average is $15.37 and its two-hundred day simple moving average is $15.09. Apple Hospitality REIT has a 12-month low of $13.60 and a 12-month high of $16.99. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The firm has a market cap of $3.66 billion, a PE ratio of 17.93 and a beta of 1.13.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of APLE. Aster Capital Management DIFC Ltd purchased a new position in Apple Hospitality REIT in the fourth quarter worth about $31,000. Quarry LP grew its position in Apple Hospitality REIT by 128.1% during the fourth quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,751 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Apple Hospitality REIT during the fourth quarter valued at approximately $51,000. GAMMA Investing LLC grew its position in Apple Hospitality REIT by 80.9% during the fourth quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 2,193 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Apple Hospitality REIT in the fourth quarter worth approximately $92,000. 89.66% of the stock is owned by hedge funds and other institutional investors.

About Apple Hospitality REIT

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.