Connect with us

Hi, what are you looking for?

Business

Cantor Fitzgerald Initiates Coverage on Apple Hospitality REIT

Investment analysts at Cantor Fitzgerald have begun coverage of Apple Hospitality REIT (NYSE: APLE), issuing a report that recommends an “overweight” rating alongside a price target of $14.00. This target implies a potential upside of 15.75% from the stock’s current price, reflecting the firm’s positive outlook on the real estate investment trust’s performance.

The new coverage follows various assessments of Apple Hospitality REIT from other financial institutions. Notably, on June 9, BMO Capital Markets downgraded the stock from “outperform” to “market perform,” while also adjusting their price target from $14.00 to $12.00. In contrast, Wells Fargo & Company recently raised its price target from $12.00 to $13.00 and assigned an “equal weight” rating. Overall, three investment analysts have rated the stock as a Buy, while two have issued a Hold rating. According to data from MarketBeat.com, the consensus rating stands at “Moderate Buy,” with a target price of $14.80.

Market Performance and Financial Metrics

On August 6, 2023, Apple Hospitality REIT reported a quarterly earnings per share (EPS) of $0.47, aligning with analysts’ expectations. The firm generated revenue of $384.37 million for the quarter, exceeding estimates of $381.37 million. The company has demonstrated a net margin of 12.71% and a return on equity of 5.58%. Analysts project that Apple Hospitality REIT will achieve an EPS of $1.60 for the current fiscal year.

As of Wednesday, August 9, 2023, shares opened at $12.10. The stock has fluctuated in the past year, reaching a low of $10.44 and a high of $16.50. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 16.13, and a beta of 1.02. Key financial ratios include a current ratio of 0.78 and a debt-to-equity ratio of 0.51.

Insider Transactions and Institutional Investments

In a recent move, Glade M. Knight, Chairman of Apple Hospitality REIT, purchased 5,000 shares at an average price of $12.29 per share on August 19, 2023. The total transaction amounted to approximately $61,450, increasing his holdings to 705,344 shares, valued at around $8,668,677.76. This acquisition was disclosed in a legal filing with the Securities and Exchange Commission (SEC), which can be accessed through the SEC website. Currently, insiders own 7.10% of the company’s stock.

Recent trading activity has seen significant institutional involvement. Victory Capital Management Inc. increased its stake in Apple Hospitality REIT by 9.4% during the first quarter, now owning 7,401,428 shares worth approximately $95,552,000. Similarly, T. Rowe Price Investment Management Inc. raised its position by 1.3%, while Nuveen LLC acquired a new stake valued at about $40,841,000. LSV Asset Management and Systematic Financial Management LP also increased their holdings in the second quarter. Overall, institutional investors and hedge funds control 89.66% of the stock.

Apple Hospitality REIT, Inc. owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. The company’s portfolio includes 223 hotels with over 29,400 guest rooms across 87 markets in 37 states, in addition to one property leased to third parties. As Apple Hospitality REIT continues to navigate the evolving market, its recent analyst coverage and insider activity may signal optimism for investors looking at the hospitality sector.

You May Also Like

Technology

Tesla (TSLA) recently reported a year-over-year drop in second-quarter deliveries, yet the market responded with optimism, pushing the stock up by 5%. This unexpected...

Health

The All England Lawn Tennis Club in London experienced its hottest-ever opening day on Monday, as the prestigious Wimbledon tournament kicked off under unprecedented...

Technology

In a bold reimagining of the DC Universe, director James Gunn has introduced a significant narrative element in his latest film, which reveals that...

Science

Look out, daters: a new toxic relationship trend is sweeping through the romantic world, leaving many baffled and heartbroken. Known as “Banksying,” this phenomenon...

Technology

Former Speaker of the House Nancy Pelosi has recently made headlines with her latest investment in the tech sector. According to official filings, she...

Entertainment

Netflix’s eagerly anticipated talent competition Building the Band is set to premiere on July 9, promising an emotional journey for viewers. This series, centered...

Entertainment

A new documentary series titled “Animals on Drugs” is set to premiere on the Discovery Channel on July 28, 2023. The three-part series follows...

Technology

The answer to today’s NYT Wordle, dated August 8, 2025, is the verb IMBUE. This word, which means “to fill or saturate,” features three...

World

The first dose of the hepatitis B vaccine is recommended at birth, a practice that has come under scrutiny following recent comments by Health...

Sports

ZAGREB, Croatia — A concert by Marko Perkovic, a right-wing Croatian singer known for his controversial views, attracted tens of thousands of fans to...

Technology

The Evo 2025 tournament is set to take place from August 1 to August 3, 2025, showcasing some of the most popular fighting games...

Sports

As the summer of 2025 unfolds, the video game industry is set to deliver a diverse array of new releases that promise to captivate...

Politics

Billionaire hedge fund manager Bill Ackman faced significant backlash following his professional tennis debut at the Hall of Fame Open in Newport, Rhode Island,...

Lifestyle

The upcoming TRNSMT 2025 festival is set to take place from July 7 to July 9, 2025, at Glasgow Green, and organizers have released...

Business

Erin Dana Lichy, a prominent cast member of “Real Housewives of New York,” has officially settled into her dream home, a grand townhouse located...

Entertainment

While the echoes of Summer Game Fest 2025 and the Xbox Games Showcase still resonate, Xbox has already set its sights on the next...

Copyright © All rights reserved. This website provides general news and educational content for informational purposes only. While we strive for accuracy, we do not guarantee the completeness or reliability of the information presented. The content should not be considered professional advice of any kind. Readers are encouraged to verify facts and consult appropriate experts when needed. We are not responsible for any loss or inconvenience resulting from the use of information on this site.