Cantor Fitzgerald Issues Positive Forecast for Apple Hospitality REIT (NYSE:APLE) Stock Price

Apple Hospitality REIT (NYSE:APLE) had its price target raised by investment analysts at Cantor Fitzgerald from $16.00 to $18.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 14.43% from the stock’s previous close.

Several other equities research analysts also recently issued reports on APLE. Zacks Research upgraded Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Bank of America boosted their price objective on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Barclays restated an “equal weight” rating and set a $17.00 target price (up from $16.00) on shares of Apple Hospitality REIT in a report on Tuesday, July 21st. BMO Capital Markets upped their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, June 12th. Finally, Wells Fargo & Company increased their price objective on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Apple Hospitality REIT Price Performance

Shares of APLE stock opened at $15.73 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT has a 12-month low of $10.85 and a 12-month high of $17.28. The firm has a fifty day moving average of $16.42 and a 200-day moving average of $13.98. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 3.17 and a beta of 0.88.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. On average, equities research analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Hedge Funds Weigh In On Apple Hospitality REIT

Several large investors have recently modified their holdings of APLE. Norges Bank acquired a new stake in Apple Hospitality REIT during the 4th quarter worth approximately $40,950,000. Centerbridge Partners L.P. grew its position in Apple Hospitality REIT by 88.2% during the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock worth $50,123,000 after buying an additional 1,982,000 shares in the last quarter. UBS Group AG increased its stake in Apple Hospitality REIT by 60.8% during the 4th quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock worth $55,950,000 after acquiring an additional 1,786,018 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Apple Hospitality REIT during the 2nd quarter valued at $26,774,000. Finally, Rush Island Management LP acquired a new stake in shares of Apple Hospitality REIT during the 1st quarter worth $17,143,000. 89.66% of the stock is owned by institutional investors.

Apple Hospitality REIT Company Profile

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.