StockNews.com reassessed Apple Hospitality REIT (NYSE: APLE) on Friday, resulting in a new rating for the company.
The previous recommendation for the company was to “sell” its shares, but the new rating is to “hold” those shares.
Separately, on Thursday, February 2, Wells Fargo & Company upgraded their recommendation on Apple Hospitality REIT from “equal weight” to “buy” and increased their price objective on the company from $17.00 to $18.00.
Both of these changes took effect.
The stock has been assigned a buy rating by three equity research professionals, while two analysts have assigned it a hold rating.
The typical recommendation by Bloomberg.com for the company is “Moderate Buy,” The website’s typical price target for the stock is $19.75.
On Friday, the NYSE APLE opened with a price of $16.73 for the trading session.
The debt-to-equity ratio for this scenario is 0.04, the current ratio is 0.03, and the quick ratio is also 0.03.
The company’s moving average price over the previous 50 days is $16.76, and the moving average price over the previous 200 days is $16.29.
The enterprise is currently valued at $3.85 billion, which can be attributed to several factors, including its price-to-earnings ratio of 26.30, its rate of EPS growth of 0.38, and its beta of 1.17.
Apple Hospitality REIT hit a low point over the past year of $13.79, while the company reached a high point over the past year of $18.69.
On Monday, February 27, Apple Hospitality REIT Chairman Glade M. Knight purchased 5,000 shares of the company’s stock.
This news comes as part of other recent happenings involving Apple Hospitality REIT.
The total cost of purchasing the stock was $84,500.00, which totals $16.90 per share on average when divided by the number of shares purchased. Following the successful completion of the acquisition, the chairman now owns 503,093 shares of the company’s stock.
These shares have a value that is approximately equivalent to $8,502,271.70. Following this link will take you to a document submitted to the Securities and Exchange Commission (SEC).
The document contains an in-depth explanation of the transaction that was reported to the SEC. 6.80 percent of the company’s shares are owned by those working within the company.
The number of hedge funds and other types of institutional investors has either increased or decreased the percentage of their holdings invested in the company over the past few months.
Alpha Paradigm Partners LLC invested approximately 816 thousand dollars during the second quarter to increase its holdings in Apple Hospitality REIT.
In the second quarter, AlphaCrest Capital Management LLC made a 106.2% increase in the amount of Apple Hotel REIT stock it owned, bringing its total to 106.2%.
After making additional purchases totaling 41,089 shares over the quarter, AlphaCrest Capital Management LLC now directly owns 79,783 shares of the real estate investment trust.
The value of these shares on the market currently is $1,170,000.
The Swiss bank Zurcher Kantonalbank During the second quarter, Zurich Cantonalbank increased the amount of Apple Hospitality REIT stock owned by 18.5%, bringing its total ownership percentage to 100%. Swiss bank Zurcher Kantonalbank Zurich Cantonalbank now has 155,870 real estate investment trust shares due to the purchase of an additional 24,328 shares during the most recent quarter.
The value of all of the bank’s 155,870 shares of the REIT comes to a total of $2,287,000. FMR LLC added 598.2% more shares of Apple Hotel REIT to its holdings over the second quarter. FMR LLC now has a total of 2,916,965 shares of the real estate investment trust, worth a combined sum of $42,791,000, after making an additional purchase of 2,499,168 shares during the most recent quarter.
Lastly, but most certainly not least, Mackenzie Financial Corporation increased its holdings in Apple Hotel REIT by a factor of 2,013.2% during the second quarter.
This is not the case to be considered the least of the company’s accomplishments.
After making additional purchases totaling 271,121 shares over the preceding three months, Mackenzie Financial Corp. now holds 284,588 shares of the real estate investment trust, currently valued at $4,170,000.
This brings the total number of shares the company owns in the REIT to 284,588, and the value of its holdings is $4,170,000.
Institutional investors and hedge funds hold 79.39% of the company’s outstanding shares.
Most of Apple Hospitality REIT, INC’s investments are concentrated in income-generating real estate connected to the hospitality industry.
Apple Hospitality REIT, INC is a self-advised real estate investment trust.
It owns hotels all over the United States that are run under the Marriott, Hilton, and Hyatt brands.
Most of these hotels are in major metropolitan areas, affluent suburban areas, and developing regions.