Oppenheimer Reiterates “Outperform” Rating for Apple Hospitality REIT (NYSE:APLE)

Apple Hospitality REIT (NYSE:APLE)‘s stock had its “outperform” rating reissued by Oppenheimer in a report released on Friday,Benzinga reports. They presently have a $18.00 target price on the real estate investment trust’s stock, up from their prior target price of $17.00. Oppenheimer’s price target suggests a potential upside of 12.99% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. Wells Fargo & Company cut their price objective on shares of 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. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.50.

Apple Hospitality REIT Price Performance

Shares of APLE stock opened at $15.93 on Friday. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 18.74 and a beta of 1.11. The company has a current ratio of 0.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $17.90. The stock has a fifty day simple moving average of $14.84 and a two-hundred day simple moving average of $14.63.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The business 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 6.17% and a net margin of 14.53%. During the same period last year, the company earned $0.45 earnings per share. On average, analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Apple Hospitality REIT

Several institutional investors have recently bought and sold shares of APLE. Vanguard Group Inc. boosted its position in shares of Apple Hospitality REIT by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock worth $582,400,000 after purchasing an additional 1,217,142 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Apple Hospitality REIT by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,398,673 shares of the real estate investment trust’s stock valued at $121,192,000 after acquiring an additional 253,082 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Apple Hospitality REIT by 11.9% during the third quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock valued at $100,059,000 after acquiring an additional 718,844 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Apple Hospitality REIT by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock valued at $49,072,000 after purchasing an additional 154,159 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Apple Hospitality REIT by 2.1% in the 2nd quarter. LSV Asset Management now owns 2,572,043 shares of the real estate investment trust’s stock worth $37,398,000 after purchasing an additional 53,300 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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.