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

Apple Hospitality REIT (NYSE:APLE - Get Free Report)'s stock had its "outperform" rating restated by Oppenheimer in a research report issued on Friday,Benzinga reports. They currently have a $18.00 target price on the real estate investment trust's stock, up from their prior target price of $17.00. Oppenheimer's price objective indicates a potential upside of 12.96% from the company's current price.

APLE has been the subject of several other reports. Wells Fargo & Company decreased 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. StockNews.com upgraded shares of Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Apple Hospitality REIT presently has a consensus rating of "Hold" and an average price target of $16.50.

Apple Hospitality REIT Trading Up 2.1 %

Shares of NYSE:APLE traded up $0.33 during trading on Friday, reaching $15.94. The stock had a trading volume of 2,359,793 shares, compared to its average volume of 2,065,496. The business has a fifty day moving average price of $14.81 and a 200-day moving average price of $14.63. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $3.86 billion, a P/E ratio of 18.56 and a beta of 1.11. 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 - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.16% and a net margin of 14.53%. The company had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. During the same period last year, the company posted $0.45 EPS. As a group, analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLE. Vanguard Group Inc. lifted its stake in Apple Hospitality REIT by 3.5% in 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 acquiring an additional 1,217,142 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Apple Hospitality REIT by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,398,673 shares of the real estate investment trust's stock worth $121,192,000 after buying an additional 253,082 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Apple Hospitality REIT by 11.9% in the third quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust's stock worth $100,059,000 after buying an additional 718,844 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Apple Hospitality REIT by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust's stock worth $49,072,000 after buying an additional 154,159 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of Apple Hospitality REIT by 2.1% in the second quarter. LSV Asset Management now owns 2,572,043 shares of the real estate investment trust's stock worth $37,398,000 after buying an additional 53,300 shares during the last quarter. 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.