In a report released today, Bryan Maher from B.Riley FBR maintained a Buy rating on Apple Hospitality REIT (APLE), with a price target of $20. The company’s shares opened today at $15.78, close to its 52-week low of $15.67.
Maher commented:
“Apple Hospitality REIT (APLE – Buy, $20 PT) posted 3Q18 results with adjusted EBITDA coming in at $122.6M, below our estimate of $127.0M and consensus’ $124.7M. MFFO/share came in at $0.47, below our estimate of $0.49 per share and consensus’ $0.48. Comparable RevPAR growth came in at –2.2%, driven by ADR growth of –0.3% and occupancy growth of –1.9%. RevPAR growth was the strongest at Apple’s 166 upscale hotels, at –1.8%, with upper-midscale hotels posting a –2.8% RevPAR loss and upper-upscale hotels posting a –3.4% RevPAR loss. (+0.1%) were Apple Hospitality’s best-performing markets from a RevPAR perspective.”
According to TipRanks.com, Maher is a 2-star analyst with an average return of 0.4% and a 50.8% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Government Properties Income Trust, and Senior Housing Properties Trust.
Currently, the analyst consensus on Apple Hospitality REIT is a Moderate Buy with an average price target of $20.
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Apple Hospitality REIT’s market cap is currently $3.75B and has a P/E ratio of 21.99. The company has a Price to Book ratio of 1.05.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APLE in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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 or Hilton brands.
