Apple Hospitality REIT (NYSE:APLE - Get Rating) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Friday.
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Separately, Wells Fargo & Company raised their price target on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an "equal weight" rating in a report on Thursday, February 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $19.75.
Shares of NYSE APLE opened at $16.83 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.03 and a quick ratio of 0.03. The firm's 50-day moving average is $16.76 and its two-hundred day moving average is $16.29. The company has a market capitalization of $3.85 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 0.38 and a beta of 1.17. Apple Hospitality REIT has a 12-month low of $13.79 and a 12-month high of $18.69.
In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT 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 of the company's stock, valued at approximately $8,502,271.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 6.80% of the company's stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alpha Paradigm Partners LLC bought a new stake in shares of Apple Hospitality REIT during the 2nd quarter worth about $816,000. AlphaCrest Capital Management LLC raised its holdings in Apple Hospitality REIT by 106.2% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 79,783 shares of the real estate investment trust's stock valued at $1,170,000 after acquiring an additional 41,089 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Apple Hospitality REIT by 18.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,870 shares of the real estate investment trust's stock valued at $2,287,000 after buying an additional 24,328 shares in the last quarter. FMR LLC boosted its holdings in shares of Apple Hospitality REIT by 598.2% during the 2nd quarter. FMR LLC now owns 2,916,965 shares of the real estate investment trust's stock valued at $42,791,000 after acquiring an additional 2,499,168 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Apple Hospitality REIT by 2,013.2% during the 2nd quarter. Mackenzie Financial Corp now owns 284,588 shares of the real estate investment trust's stock worth $4,175,000 after buying an additional 271,121 shares during the period. Institutional investors and hedge funds own 79.39% of the company's stock.
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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