Apple Hospitality REIT Inc (NYSE:APLE) Short Interest Down 14.8% in July
Apple Hospitality REIT Inc (NYSE:APLE) saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 3,520,000 shares, a drop of 14.8% from the June 30th total of 4,130,000 shares. Based on an average daily trading volume, of 2,930,000 shares, the days-to-cover ratio is currently 1.2 days. Approximately 1.7% of the shares of the company are sold short.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, July 10th. TheStreet cut Apple Hospitality REIT from a “c” rating to a “d+” rating in a research report on Friday, May 22nd. Barclays lifted their price objective on Apple Hospitality REIT from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Monday, June 22nd. ValuEngine raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, KeyCorp reissued a “hold” rating on shares of Apple Hospitality REIT in a research note on Tuesday, May 19th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Apple Hospitality REIT currently has a consensus rating of “Hold” and an average target price of $13.08.
Shares of APLE stock traded down $0.10 during mid-day trading on Friday, hitting $8.82. The company’s stock had a trading volume of 1,669,681 shares, compared to its average volume of 1,966,770. Apple Hospitality REIT has a 52-week low of $4.48 and a 52-week high of $16.88. The business has a 50-day moving average price of $9.54 and a 200 day moving average price of $10.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 4.37 and a current ratio of 4.37. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 14.95 and a beta of 1.04.
Several institutional investors have recently made changes to their positions in the company. UBS Group AG lifted its position in shares of Apple Hospitality REIT by 15.2% in the second quarter. UBS Group AG now owns 402,530 shares of the real estate investment trust’s stock valued at $3,888,000 after acquiring an additional 53,057 shares in the last quarter. Grove Bank & Trust purchased a new stake in Apple Hospitality REIT during the second quarter valued at approximately $131,000. Signaturefd LLC raised its position in Apple Hospitality REIT by 26.2% during the second quarter. Signaturefd LLC now owns 6,537 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 1,358 shares during the period. First Quadrant L P CA purchased a new stake in Apple Hospitality REIT during the second quarter valued at approximately $186,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Apple Hospitality REIT by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,276 shares of the real estate investment trust’s stock valued at $611,000 after purchasing an additional 5,506 shares during the period. Institutional investors and hedge funds own 62.30% of the company’s stock.
Apple Hospitality REIT Company Profile
Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.
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