Oppenheimer Reiterates Outperform Rating for Apple Hospitality REIT (NYSE:APLE)

Apple Hospitality REIT (NYSE:APLE)‘s stock had its “outperform” rating reissued by analysts at Oppenheimer in a report released on Friday, Benzinga reports. They presently have a $17.00 price objective on the real estate investment trust’s stock. Oppenheimer’s target price suggests a potential upside of 11.84% from the company’s current price.

Separately, Wells Fargo & Company reduced their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.25.

Apple Hospitality REIT Stock Performance

APLE opened at $15.20 on Friday. The business’s 50-day moving average price is $14.45 and its two-hundred day moving average price is $14.78. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $17.90. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 17.67 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75.

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

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the transaction, the chairman now owns 636,990 shares in the company, valued at approximately $8,943,339.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 6.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Apple Hospitality REIT by 3.5% during the first quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after purchasing an additional 1,217,142 shares in the last quarter. Masterton Capital Management LP acquired a new position in Apple Hospitality REIT during the second quarter valued at approximately $3,378,000. Foundry Partners LLC raised its position in Apple Hospitality REIT by 11.3% during the first quarter. Foundry Partners LLC now owns 347,717 shares of the real estate investment trust’s stock valued at $5,696,000 after purchasing an additional 35,166 shares in the last quarter. Entropy Technologies LP acquired a new position in Apple Hospitality REIT during the first quarter valued at approximately $338,000. Finally, Dimensional Fund Advisors LP raised its position in Apple Hospitality REIT by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock valued at $49,072,000 after purchasing an additional 154,159 shares in the last quarter. 89.66% of the stock is currently 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.