Wells Fargo & Company Has Lowered Expectations for Apple Hospitality REIT (NYSE:APLE) Stock Price

Apple Hospitality REIT (NYSE:APLE) had its target price reduced by equities researchers 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 would suggest a potential upside of 4.21% from the company’s current price.

Several other equities analysts also recently weighed in on APLE. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. BMO Capital Markets initiated coverage on Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 price target for the company. Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their price target for the company from $16.00 to $17.00 in a report on Monday, January 27th. Finally, Oppenheimer restated an “outperform” rating and set a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.80.

Apple Hospitality REIT Price Performance

APLE opened at $15.35 on Tuesday. The stock has a fifty day simple moving average of $15.33 and a two-hundred day simple moving average of $15.10. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 18.06 and a beta of 1.13. Apple Hospitality REIT has a 12-month low of $13.60 and a 12-month high of $16.99.

Institutional Investors Weigh In On Apple Hospitality REIT

Several large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in Apple Hospitality REIT by 27.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust’s stock worth $126,472,000 after buying an additional 1,761,996 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Apple Hospitality REIT by 0.4% in the 4th quarter. Victory Capital Management Inc. now owns 6,767,740 shares of the real estate investment trust’s stock worth $103,885,000 after buying an additional 29,781 shares in the last quarter. Geode Capital Management LLC increased its holdings in Apple Hospitality REIT by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock worth $85,571,000 after buying an additional 62,149 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Apple Hospitality REIT by 0.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,243,575 shares of the real estate investment trust’s stock worth $77,867,000 after buying an additional 18,858 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Apple Hospitality REIT by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust’s stock worth $70,465,000 after buying an additional 133,505 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

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.