Analysts at StockNews.com assumed coverage on shares of Apple Hospitality REIT (NYSE:APLE - Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a "hold" rating on the real estate investment trust's stock.
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Separately, Wells Fargo & Company raised their target price on Apple Hospitality REIT from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.
APLE stock opened at $15.32 on Thursday. The business has a fifty day moving average of $16.81 and a two-hundred day moving average of $16.23. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.04. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 0.49 and a beta of 1.17. Apple Hospitality REIT has a 52-week low of $13.79 and a 52-week high of $18.69.
In related news, Chairman Glade M. Knight bought 5,000 shares of the firm's stock in a transaction that occurred on Monday, February 27th. The stock was purchased at an average cost of $16.90 per share, for a total transaction of $84,500.00. Following the completion of the acquisition, the chairman now owns 503,093 shares in the company, valued at approximately $8,502,271.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.80% of the company's stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in Apple Hospitality REIT during the 1st quarter worth about $25,000. Lazard Asset Management LLC purchased a new stake in Apple Hospitality REIT during the 2nd quarter worth about $29,000. Ronald Blue Trust Inc. lifted its holdings in Apple Hospitality REIT by 145.0% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,528 shares of the real estate investment trust's stock worth $37,000 after buying an additional 1,496 shares during the last quarter. CWM LLC lifted its holdings in Apple Hospitality REIT by 7,602.3% during the 3rd quarter. CWM LLC now owns 3,312 shares of the real estate investment trust's stock worth $47,000 after buying an additional 3,269 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Apple Hospitality REIT during the 3rd quarter worth about $67,000. 79.39% of the stock is currently owned by hedge funds and other institutional investors.
Apple Hospitality REIT, Inc is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. It owns hotels located in urban, high-end suburban, and developing markets throughout states, which operates under Marriott, Hilton, or Hyatt brands.
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