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

Apple Hospitality REIT (NYSE:APLE)‘s stock had its “outperform” rating reiterated by research analysts at Oppenheimer in a research report issued on Friday,Benzinga reports. They currently have a $18.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $17.00. Oppenheimer’s price objective points to a potential upside of 13.71% from the stock’s current price.

Other analysts also recently issued reports about the stock. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company decreased their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Apple Hospitality REIT Stock Performance

Shares of NYSE:APLE traded up $0.22 during midday trading on Friday, hitting $15.83. The company had a trading volume of 287,512 shares, compared to its average volume of 2,055,947. Apple Hospitality REIT has a 12-month low of $13.60 and a 12-month high of $17.90. The company has a fifty day moving average of $14.81 and a two-hundred day moving average of $14.63. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 18.56 and a beta of 1.11. 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 issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The company 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 6.16% and a net margin of 14.53%. During the same quarter in the previous year, the company earned $0.45 EPS. On average, equities research analysts expect that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Institutional Trading of Apple Hospitality REIT

Hedge funds have recently made changes to their positions in the business. 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 during the period. Victory Capital Management Inc. increased its position in shares of Apple Hospitality REIT by 17.2% during the 2nd quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock valued at $87,518,000 after purchasing an additional 881,217 shares during the last quarter. Edgestream Partners L.P. raised its holdings in Apple Hospitality REIT by 400.8% during the 2nd quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust’s stock valued at $9,286,000 after buying an additional 511,100 shares during the period. Westwood Holdings Group Inc. lifted its position in Apple Hospitality REIT by 911.1% in the second quarter. Westwood Holdings Group Inc. now owns 388,414 shares of the real estate investment trust’s stock worth $5,648,000 after buying an additional 350,000 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its stake in Apple Hospitality REIT by 3,768.4% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,156 shares of the real estate investment trust’s stock worth $5,062,000 after buying an additional 339,156 shares during the period. 89.66% of the stock is currently 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.