Apple Hospitality REIT (NYSE:APLE) Stock Gets Price Target Increase from JPMorgan Chase & Co.

Apple Hospitality REIT (NYSE:APLE) had its price target boosted by JPMorgan Chase & Co. from $16.00 to $17.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.’s price target indicates a potential downside of 6.36% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Barclays raised their price objective on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 13th. Compass Point raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $17.50 to $18.50 in a research note on Friday, August 7th. Wells Fargo & Company raised their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Apple Hospitality REIT in a research report on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.19.

Apple Hospitality REIT Stock Performance

NYSE:APLE traded up $0.34 during mid-day trading on Wednesday, reaching $18.16. The stock had a trading volume of 549,398 shares, compared to its average volume of 2,875,970. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $18.17. The business has a 50 day simple moving average of $16.13 and a 200 day simple moving average of $15.45. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 3.37 and a beta of 0.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. The company had revenue of $402.55 million for the quarter, compared to analysts’ expectations of $391.88 million. On average, analysts expect that Apple Hospitality REIT will post 1.60 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Apple Hospitality REIT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its holdings in Apple Hospitality REIT by 38.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 21,764 shares of the real estate investment trust’s stock valued at $353,000 after buying an additional 5,998 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in shares of Apple Hospitality REIT by 7.1% in the third quarter. CWA Asset Management Group LLC now owns 115,947 shares of the real estate investment trust’s stock worth $1,874,000 after acquiring an additional 7,692 shares during the last quarter. Columbus Macro LLC raised its holdings in shares of Apple Hospitality REIT by 6.0% in the third quarter. Columbus Macro LLC now owns 408,915 shares of the real estate investment trust’s stock worth $6,608,000 after acquiring an additional 23,069 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Apple Hospitality REIT by 26.5% in the third quarter. GAMMA Investing LLC now owns 14,613 shares of the real estate investment trust’s stock valued at $236,000 after acquiring an additional 3,061 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Apple Hospitality REIT by 35.3% in the third quarter. Farther Finance Advisors LLC now owns 6,949 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 1,813 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a self-administered and self-managed real estate investment trust that owns a portfolio of upscale, select-service hotels across the United States. The company’s properties primarily operate under well-known hospitality brands affiliated with Marriott International, Hilton Worldwide Holdings and Hyatt Hotels Corporation.

Apple Hospitality’s hotels provide lodging and related guest services, including accommodations, meeting facilities, food and beverage offerings, and other amenities.