** Shares of Apple Hospitality REIT APLE.N down 2.8% to $11.19, after touching lowest level since early Nov 2020, following operational update

** Hotel real estate investment trust in an investor presentation said Q1 RevPAR (Revenue Per Available Room) was down less than 1% y/y, based on preliminary results

** Weather-related travel disruptions clipped results in Jan and Feb, and reduced government travel negatively impacted a number of markets in Mar, co said

** Government travel has dropped in wake of the Trump administration's cuts in jobs and federal spending

** Richmond, Virginia-based owner of 221 hotels throughout 37 U.S. states at end-Dec, substantially operated under the Marriott or Hilton brands, said overall occupancy remained strong on an absolute basis with growth in avg daily rates, per the presentation

** APLE shares falling for fourth straight session amid global market meltdown as trade war escalates

** With move on Mon, stock down ~27% YTD vs ~30% decline in the S&P 600 Hotel & Resort REITs index .SPMCHRRI

** Wells Fargo early Mon chopped its PT by $4 to $12, before co filed its presentation

** 3 of 8 analysts covering APLE rate stock "strong buy" or "buy", rest "hold"; Median PT of $16.50 implies 32% upside to current levels

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))