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Apple Hospitality REIT Receives Average Recommendation from Brokerages

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Apple Hospitality REIT's (NYSE: APLE) stock has received an average recommendation of 'Moderate Buy' from eleven brokerages covering the company, according to Marketbeat Ratings. Six analysts have given a hold recommendation, while four have issued a buy recommendation and one a strong buy recommendation.

The average twelve-month target price among these brokers is $16.50. In recent research reports, Cantor Fitzgerald reissued an 'overweight' rating on the stock, Bank of America upped its price objective to $16.00 with a neutral rating, and Compass Point raised Apple Hospitality REIT from a neutral rating to a buy rating.

Additionally, LADENBURG THALM/SH SH increased its target price on the company to $17.00, while JPMorgan Chase & Co. boosted its price target to $16.00 with a neutral rating. Institutional investors have also shown interest in Apple Hospitality REIT, with Royal Bank of Canada and MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increasing their stakes in the first quarter.

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