APLE - Apple Hospitality upgraded to Buy at B. Riley on attractive portfolio balance sheet

B. Riley analyst Bryan Maher on Thursday has upped Apple Hospitality (NYSE:APLE) to Buy from Neutral as its recent pullback in the share price yields a more attractive valuation.  Over the past month, shares of APLE are off nearly 5%.  Maher also pointed to "the resiliency of the REIT's broadly diversified portfolio of upscale select-service hotels, and APLE's strong balance sheet positioning that includes 91% of its debt being fixed at 1Q22," he wrote in a note.  Despite a backdrop of recession fears, the REIT's portfolio is expected to deliver "solid results" over time because its "hotels broadly appeal to both leisure and business transient travelers due to the quality and consistency of product (mostly Marriott, Hilton and Hyatt hotels), which are offered at a reasonable price point," Maher said, adding that "this is particularly attractive to travelers in an otherwise overly inflationary environment." Similarly, Seeking Alpha's Quant Rating screens Apple

For further details see:

Apple Hospitality upgraded to Buy at B. Riley on attractive portfolio, balance sheet