Apple Hospitality REIT (NYSE:APLE) Coverage Initiated at BMO Capital Markets

Analysts at BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT (NYSE:APLE - Get Free Report) in a report released 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 objective suggests a potential upside of 11.32% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research note on Friday, November 22nd. Oppenheimer reaffirmed an "outperform" rating and issued a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, Wells Fargo & Company reduced their price objective on shares of 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $16.80.

Apple Hospitality REIT Stock Up 0.7 %

APLE traded up $0.12 on Monday, hitting $16.17. 1,132,565 shares of the company were exchanged, compared to its average volume of 2,029,211. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 19.06 and a beta of 1.13. The firm has a 50-day moving average price of $15.40 and a two-hundred day moving average price of $14.79. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $17.90.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.22). The firm had revenue of $378.84 million for 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 quarter in the previous year, the company posted $0.45 earnings per share. On average, equities analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. EdgeRock Capital LLC purchased a new stake in Apple Hospitality REIT in the 2nd quarter valued at approximately $26,000. Quarry LP grew its stake in shares of Apple Hospitality REIT by 127.5% during the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 1,290 shares during the period. GAMMA Investing LLC increased its holdings in shares of Apple Hospitality REIT by 40.4% in the 3rd 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 in the last quarter. Headlands Technologies LLC lifted its position in shares of Apple Hospitality REIT by 4,406.5% during the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust's stock valued at $81,000 after acquiring an additional 5,420 shares during the period. Finally, Palouse Capital Management Inc. purchased a new stake in Apple Hospitality REIT during the second quarter worth $99,000. Institutional investors and hedge funds own 89.66% of the company's stock.

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.