Apple Hospitality REIT (NYSE:APLE) Stock Rating Upgraded by StockNews.com

Apple Hospitality REIT (NYSE:APLE) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Separately, Bank of America cut Apple Hospitality REIT from a “buy” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $18.00 in a research report on Monday, January 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.40.

Apple Hospitality REIT Stock Down 1.1 %

Shares of NYSE:APLE opened at $14.70 on Tuesday. Apple Hospitality REIT has a 1 year low of $14.22 and a 1 year high of $17.90. The company has a market cap of $3.56 billion, a PE ratio of 17.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.36 and a quick ratio of 0.36. The stock’s 50-day moving average is $15.87 and its 200 day moving average is $16.21.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). Apple Hospitality REIT had a net margin of 13.21% and a return on equity of 5.54%. The business had revenue of $329.51 million for the quarter, compared to analysts’ expectations of $324.68 million. During the same quarter in the prior year, the firm earned $0.34 EPS. Sell-side analysts anticipate that Apple Hospitality REIT will post 1.65 EPS for the current year.

Institutional Trading of Apple Hospitality REIT

Several hedge funds and other institutional investors have recently made changes to their positions in APLE. Bank of New York Mellon Corp grew its stake in shares of Apple Hospitality REIT by 52.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,303,878 shares of the real estate investment trust’s stock worth $35,341,000 after buying an additional 795,380 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Apple Hospitality REIT by 396.0% in the 3rd quarter. New York State Teachers Retirement System now owns 94,935 shares of the real estate investment trust’s stock worth $1,456,000 after buying an additional 75,795 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Apple Hospitality REIT by 0.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,845 shares of the real estate investment trust’s stock worth $1,578,000 after buying an additional 674 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Apple Hospitality REIT in the 3rd quarter worth approximately $922,000. Finally, First Trust Direct Indexing L.P. boosted its stake in Apple Hospitality REIT by 20.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 12,023 shares of the real estate investment trust’s stock valued at $184,000 after purchasing an additional 2,000 shares during 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 (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.