Apple Hospitality REIT (NYSE:APLE) Now Covered by Analysts at BMO Capital Markets

Analysts at BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research note issued on Monday, MarketBeat reports. The firm set an “outperform” rating and a $18.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price target would indicate a potential upside of 10.67% from the stock’s current price.

APLE has been the subject of a number of other reports. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Wells Fargo & Company cut their target price on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Finally, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.80.

Apple Hospitality REIT Stock Performance

Shares of NYSE APLE opened at $16.27 on Monday. The firm has a fifty day moving average price of $15.46 and a 200-day moving average price of $14.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market cap of $3.90 billion, a PE ratio of 19.14 and a beta of 1.13. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The firm had revenue of $378.84 million during the quarter, compared to analysts’ expectations of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period last year, the company earned $0.45 earnings per share. Equities analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Apple Hospitality REIT

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in Apple Hospitality REIT by 40.4% during the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 780 shares during the last quarter. Amalgamated Bank lifted its position in Apple Hospitality REIT by 1.2% during the second quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock valued at $996,000 after purchasing an additional 813 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in Apple Hospitality REIT by 6.0% during the third quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust’s stock valued at $241,000 after purchasing an additional 921 shares during the last quarter. Ellis Investment Partners LLC lifted its position in Apple Hospitality REIT by 4.6% during the third quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust’s stock valued at $318,000 after purchasing an additional 948 shares during the last quarter. Finally, Inspire Advisors LLC lifted its position in Apple Hospitality REIT by 8.2% during the third quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 1,008 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

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.