Apple Hospitality REIT (NYSE:APLE) Coverage Initiated at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. began coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research report issued to clients and investors on Monday. The brokerage set a “neutral” rating and a $15.00 price target on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 2.12% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Barclays reiterated an “overweight” rating and set a $16.00 price objective on shares of Apple Hospitality REIT in a report on Monday. Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. LADENBURG THALM/SH SH started coverage on Apple Hospitality REIT in a report on Thursday, March 26th. They set a “neutral” rating and a $13.00 price objective for the company. Wells Fargo & Company decreased their price objective on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. Finally, Cantor Fitzgerald raised their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.56.

Apple Hospitality REIT Stock Down 0.0%

NYSE:APLE opened at $14.69 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $3.47 billion, a PE ratio of 20.12 and a beta of 0.89. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $15.08. The stock has a 50-day simple moving average of $13.06 and a 200 day simple moving average of $12.40.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. On average, sell-side analysts expect that Apple Hospitality REIT will post 1.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the purchase, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Apple Hospitality REIT

A number of hedge funds have recently made changes to their positions in APLE. Norges Bank acquired a new stake in shares of Apple Hospitality REIT in the fourth quarter valued at approximately $40,950,000. Centerbridge Partners L.P. lifted its position in shares of Apple Hospitality REIT by 88.2% in the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock valued at $50,123,000 after buying an additional 1,982,000 shares during the last quarter. UBS Group AG lifted its position in shares of Apple Hospitality REIT by 60.8% in the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock valued at $55,950,000 after buying an additional 1,786,018 shares during the last quarter. Rush Island Management LP acquired a new stake in shares of Apple Hospitality REIT in the first quarter valued at approximately $17,143,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Apple Hospitality REIT in the fourth quarter valued at approximately $13,361,000. 89.66% of the stock is owned by institutional investors and hedge funds.

About Apple Hospitality REIT

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.