Apple Hospitality REIT (NYSE:APLE) Price Target Lowered to $16.00 at Wells Fargo & Company

Apple Hospitality REIT (NYSE:APLE - Get Free Report) had its price target decreased by equities research analysts at Wells Fargo & Company from $17.00 to $16.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price target suggests a potential upside of 8.22% from the company's previous close.

APLE has been the topic of several other research reports. StockNews.com upgraded Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research note on Friday, November 22nd. BMO Capital Markets started coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an "outperform" rating and a $18.00 price objective on the stock. Oppenheimer reiterated an "outperform" rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, Bank of America upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and upped their price objective for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Apple Hospitality REIT presently has a consensus rating of "Moderate Buy" and an average price target of $16.80.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock traded down $0.49 during trading on Tuesday, hitting $14.79. The stock had a trading volume of 2,737,175 shares, compared to its average volume of 1,771,237. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year 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 stock's 50 day moving average is $15.29 and its two-hundred day moving average is $15.11. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 17.39 and a beta of 1.13.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of APLE. Price T Rowe Associates Inc. MD raised its holdings in Apple Hospitality REIT by 27.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust's stock valued at $126,472,000 after acquiring an additional 1,761,996 shares during the period. Norges Bank bought a new position in shares of Apple Hospitality REIT in the fourth quarter worth $21,099,000. Victory Capital Management Inc. increased its holdings 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 purchasing an additional 718,844 shares during the period. ExodusPoint Capital Management LP increased its holdings in shares of Apple Hospitality REIT by 126.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 899,842 shares of the real estate investment trust's stock worth $13,813,000 after purchasing an additional 503,114 shares during the period. Finally, Woodline Partners LP bought a new position in shares of Apple Hospitality REIT in the fourth quarter worth $5,898,000. Institutional investors 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.