Apple Hospitality REIT price target lowered to $16 from $17 at Wells Fargo

Wells Fargo lowered the firm’s price target on Apple Hospitality REIT (APLE) to $16 from $17 and keeps an Equal Weight rating on the shares. Ahead of Q4 earnings, the firm is reducing its 2025 EBITDA and FFO/share estimates by 1% and 2%, respectively, taking into account the potential trajectory of quarter-to-date RevPAR headwinds/tailwinds, renovations, and higher interest rates.