BidaskClub Downgrades Apple Hospitality REIT, Inc. (APLE) to Sell

Apple Hospitality REIT, Inc. (NYSE:APLE) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other brokerages also recently weighed in on APLE. Zacks Investment Research raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Canaccord Genuity reissued a “hold” rating and issued a $19.00 target price (down previously from $20.00) on shares of Apple Hospitality REIT in a research note on Friday, August 11th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $21.00 target price on shares of Apple Hospitality REIT in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Apple Hospitality REIT currently has an average rating of “Hold” and a consensus price target of $19.67.

Shares of Apple Hospitality REIT (NYSE APLE) opened at 18.94 on Wednesday. The firm has a 50-day moving average of $18.88 and a 200-day moving average of $18.68. Apple Hospitality REIT has a one year low of $17.32 and a one year high of $20.68. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 22.99 and a beta of 0.61.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.01). Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The firm had revenue of $331.70 million during the quarter, compared to analysts’ expectations of $335.94 million. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue was up 28.7% compared to the same quarter last year. Equities research analysts forecast that Apple Hospitality REIT will post $1.03 EPS for the current fiscal year.

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In related news, Chairman Glade M. Knight purchased 20,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $17.62 per share, with a total value of $352,400.00. Following the purchase, the chairman now directly owns 10,041,357 shares of the company’s stock, valued at approximately $176,928,710.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Redd Hugh purchased 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Monday, August 28th. The stock was bought at an average cost of $17.83 per share, for a total transaction of $89,150.00. Following the purchase, the director now directly owns 61,495 shares in the company, valued at $1,096,455.85. The disclosure for this purchase can be found here. Insiders purchased a total of 45,000 shares of company stock worth $794,950 in the last ninety days. 6.30% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Schroder Investment Management Group purchased a new position in Apple Hospitality REIT in the 2nd quarter worth about $102,000. Public Employees Retirement Association of Colorado increased its stake in Apple Hospitality REIT by 26.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 1,393 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Apple Hospitality REIT by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock worth $132,000 after acquiring an additional 494 shares in the last quarter. IMS Capital Management bought a new position in Apple Hospitality REIT during the 2nd quarter worth about $140,000. Finally, Ffcm LLC grew its holdings in Apple Hospitality REIT by 353.1% during the 2nd quarter. Ffcm LLC now owns 8,374 shares of the real estate investment trust’s stock worth $159,000 after acquiring an additional 6,526 shares in the last quarter. 49.08% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of September 13, 2017, the Company owned 237 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 33 states.

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