BMO Capital Starts Apple Hospitality REIT (APLE) at Outperform

BMO Capital analyst Ari Klein initiates coverage on Apple Hospitality REIT (NYSE: APLE) with a Outperform rating and a price target of $18.00.

The analyst comments: "We are initiating coverage of Apple Hospitality with an Outperform rating and $18 target price. APLE is the largest pure-play select-service lodging REIT with a high quality and diversified portfolio. We are positive on APLE as we believe the
company provides defensive characteristics but can also benefit from potential RevPAR improvement, with leading margins, a strong balance sheet that provides optionality, and an attractive dividend yield at 6%. At 11x 2025 EBITDA, we believe there is room for upside, with our $18 target price reflecting an 18% total return."

For an analyst ratings summary and ratings history on Apple Hospitality REIT click here. For more ratings news on Apple Hospitality REIT click here.

Shares of Apple Hospitality REIT closed at $16.05 yesterday.

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