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Apple Hospitality REIT (NYSE:APLE) Protection Initiated by Analysts at Capital One Monetary

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Analysts at Capital One Financial started coverage on shares of Apple Hospitality REIT (NYSE:APLE) in a research note issued on Tuesday, June 25th, Marketbeat Ratings reports. The firm set an “equal weight” rating and a $17.00 price target on the real estate investment trust’s stock. Capital One Financial‘s price target suggests a potential upside of 10.25% from the stock’s previous close. Capital One Financial also issued estimates for Apple Hospitality REIT’s Q2 2019 earnings at $0.50 EPS, Q3 2019 earnings at $0.46 EPS, Q4 2019 earnings at $0.34 EPS, FY2019 earnings at $1.68 EPS, Q1 2020 earnings at $0.39 EPS, Q2 2020 earnings at $0.50 EPS, Q3 2020 earnings at $0.46 EPS, Q4 2020 earnings at $0.34 EPS, FY2020 earnings at $1.69 EPS, Q1 2021 earnings at $0.38 EPS and FY2021 earnings at $1.71 EPS.

APLE has been the subject of a number of other reports. Zacks Investment Research downgraded Great Portland Estates from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, B. Riley set a $9.00 price target on Nautilus and gave the company a “hold” rating in a report on Tuesday, February 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Apple Hospitality REIT currently has a consensus rating of “Hold” and an average target price of $18.25.

NYSE:APLE traded down $0.18 on Tuesday, reaching $15.42. 1,324,314 shares of the company’s stock were exchanged, compared to its average volume of 1,249,895. The business has a fifty day simple moving average of $15.75. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47. Apple Hospitality REIT has a 52-week low of $13.81 and a 52-week high of $18.24. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 1.86 and a beta of 0.82.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.20). Apple Hospitality REIT had a return on equity of 5.82% and a net margin of 15.84%. The firm had revenue of $303.79 million for the quarter, compared to analysts’ expectations of $303.62 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, research analysts anticipate that Apple Hospitality REIT will post 1.66 EPS for the current year.

In related news, Director Redd Hugh purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost of $15.88 per share, with a total value of $31,760.00. Following the completion of the acquisition, the director now directly owns 92,154 shares in the company, valued at $1,463,405.52. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were bought at an average cost of $16.42 per share, with a total value of $82,100.00. Following the completion of the acquisition, the chairman now owns 10,128,812 shares of the company’s stock, valued at $166,315,093.04. The disclosure for this purchase can be found here. 6.50% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of APLE. Commonwealth Equity Services LLC boosted its stake in shares of Apple Hospitality REIT by 63.3% during the second quarter. Commonwealth Equity Services LLC now owns 55,015 shares of the real estate investment trust’s stock valued at $872,000 after acquiring an additional 21,334 shares during the last quarter. Cascade Investment Advisors Inc. boosted its stake in shares of Apple Hospitality REIT by 5.4% during the second quarter. Cascade Investment Advisors Inc. now owns 52,215 shares of the real estate investment trust’s stock valued at $828,000 after acquiring an additional 2,675 shares during the last quarter. Forward Management LLC boosted its stake in shares of Apple Hospitality REIT by 27.1% during the second quarter. Forward Management LLC now owns 591,080 shares of the real estate investment trust’s stock valued at $9,374,000 after acquiring an additional 125,900 shares during the last quarter. Unigestion Holding SA boosted its stake in shares of Apple Hospitality REIT by 23.5% during the second quarter. Unigestion Holding SA now owns 134,200 shares of the real estate investment trust’s stock valued at $2,128,000 after acquiring an additional 25,500 shares during the last quarter. Finally, Community Bank of Raymore boosted its stake in shares of Apple Hospitality REIT by 1.4% during the second quarter. Community Bank of Raymore now owns 128,684 shares of the real estate investment trust’s stock valued at $2,041,000 after acquiring an additional 1,800 shares during the last quarter. 57.40% of the stock is owned by hedge funds and other institutional investors.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, select-service hotels in the United States. Apple Hospitality’s portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.

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