Robert W. Baird analyst Michael Bellisario maintained a Buy rating on Apple Hospitality REIT (APLE) on February 23 and set a price target of $15.00. The company’s shares closed last Thursday at $14.64, close to its 52-week high of $15.15.
According to TipRanks.com, Bellisario is a 4-star analyst with an average return of 15.7% and a 62.8% success rate. Bellisario covers the Financial sector, focusing on stocks such as Summit Hotel Properties, Host Hotels & Resorts, and Ashford Hospitality.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Apple Hospitality REIT with a $14.67 average price target.
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Based on Apple Hospitality REIT’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $149 million and GAAP net loss of $40.95 million. In comparison, last year the company earned revenue of $332 million and had a net profit of $46.22 million.
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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. The company was founded by Glade M. Knight on November 8, 2007 and is headquartered in Richmond, VA.
