Apple Hospitality REIT (APLE) Initiated with a Buy at Barclays

In a report released on January 2, Richard Hightower from Barclays initiated coverage with a Buy rating on Apple Hospitality REIT and a price target of $14.00. The company’s shares closed yesterday at $12.06.

Claim 70% Off TipRanks Premium

• Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
• Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential

According to TipRanks, Hightower is an analyst with an average return of -2.5% and a 36.18% success rate. Hightower covers the Real Estate sector, focusing on stocks such as Agree Realty, W. P. Carey Inc., and Gaming and Leisure.

The word on The Street in general, suggests a Hold analyst consensus rating for Apple Hospitality REIT with a $12.80 average price target.

Based on Apple Hospitality REIT’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $373.88 million and a net profit of $50.88 million. In comparison, last year the company earned a revenue of $378.84 million and had a net profit of $56.27 million

Based on the recent corporate insider activity of 59 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. Last month, Glade Knight, the EC of APLE bought 5,000.00 shares for a total of $59,550.00.