Wolfe Research slashes price target on Apple Hospitality REIT Inc [APLE] – find out why.

Apple Hospitality REIT Inc [NYSE: APLE] closed the trading session at $15.76 on 11/08/23. The day’s price range saw the stock hit a low of $15.67, while the highest price level was $16.59. The company report on November 7, 2023 at 4:15 PM that Apple Hospitality REIT Reports Results of Operations for Third Quarter 2023.

Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced results of operations for the third quarter ended September 30, 2023.

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The stocks have a year to date performance of -0.13 percent and weekly performance of -0.38 percent. The stock has been moved at 0.06 percent over the last six months. The stock has performed 2.20 percent around the most recent 30 days and changed 4.44 percent over the most recent 3-months.

If compared to the average trading volume of 2.73M shares, APLE reached to a volume of 3892128 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Apple Hospitality REIT Inc [APLE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APLE shares is $18.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APLE stock is a recommendation set at 1.89. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for Apple Hospitality REIT Inc shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on September 28, 2023.

The Average True Range (ATR) for Apple Hospitality REIT Inc is set at 0.44, with the Price to Sales ratio for APLE stock in the period of the last 12 months amounting to 2.75. The Price to Book ratio for the last quarter was 1.14, with the Price to Cash per share for the same quarter was set at 0.17. Price to Free Cash Flow for APLE in the course of the last twelve months was 11.36.

APLE stock trade performance evaluation

Apple Hospitality REIT Inc [APLE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.38. With this latest performance, APLE shares gained by 2.20% in over the last four-week period, additionally plugging by 0.06% over the last 6 months – not to mention a drop of -2.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APLE stock in for the last two-week period is set at 49.16, with the RSI for the last a single of trading hit 46.14, and the three-weeks RSI is set at 50.44 for Apple Hospitality REIT Inc [APLE]. The present Moving Average for the last 50 days of trading for this stock 15.67, while it was recorded at 16.54 for the last single week of trading, and 15.56 for the last 200 days.

Apple Hospitality REIT Inc [APLE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Apple Hospitality REIT Inc [APLE] shares currently have an operating margin of +18.64 and a Gross Margin at +22.07. Apple Hospitality REIT Inc’s Net Margin is presently recorded at +11.69.

Return on Total Capital for APLE is now 4.92, given the latest momentum, and Return on Invested Capital for the company is 3.21. Return on Equity for this stock inclined to 4.58, with Return on Assets sitting at 3.03. When it comes to the capital structure of this company, Apple Hospitality REIT Inc [APLE] has a Total Debt to Total Equity ratio set at 46.88. Additionally, APLE Total Debt to Total Capital is recorded at 31.92, with Total Debt to Total Assets ending up at 31.22. Long-Term Debt to Equity for the company is recorded at 43.67, with the Long-Term Debt to Total Capital now at 29.73.

Reflecting on the efficiency of the workforce at the company, Apple Hospitality REIT Inc [APLE] managed to generate an average of $2,298,492 per employee. Receivables Turnover for the company is 29.46 with a Total Asset Turnover recorded at a value of 0.26.

Apple Hospitality REIT Inc [APLE]: Institutional Ownership

The top three institutional holders of APLE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in APLE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in APLE stock with ownership which is approximately 5.7994%.