Empowered Funds LLC bought a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 22,350 shares of the real estate investment trust's stock, valued at approximately $343,000.
Several other institutional investors and hedge funds have also bought and sold shares of APLE. GAMMA Investing LLC increased its holdings in shares of Apple Hospitality REIT by 80.9% in the fourth quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 2,193 shares during the period. Covestor Ltd grew its position in Apple Hospitality REIT by 30.0% during the third quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust's stock worth $118,000 after buying an additional 1,831 shares in the last quarter. KBC Group NV increased its stake in Apple Hospitality REIT by 37.8% in the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust's stock worth $142,000 after acquiring an additional 2,541 shares during the last quarter. Blue Trust Inc. increased its stake in Apple Hospitality REIT by 21.3% in the 3rd quarter. Blue Trust Inc. now owns 11,716 shares of the real estate investment trust's stock worth $170,000 after acquiring an additional 2,059 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Apple Hospitality REIT by 28.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,262 shares of the real estate investment trust's stock valued at $171,000 after acquiring an additional 2,506 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.
Apple Hospitality REIT Price Performance
Shares of APLE stock traded down $0.49 during trading hours on Friday, hitting $14.79. 2,737,175 shares of the company's stock were exchanged, compared to its average volume of 1,771,237. The company has a market capitalization of $3.55 billion, a PE ratio of 17.39 and a beta of 1.13. The business's 50 day simple moving average is $15.32 and its 200-day simple moving average is $15.10. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $16.99. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03.
Apple Hospitality REIT Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.49%. The ex-dividend date is Friday, February 28th. Apple Hospitality REIT's dividend payout ratio is presently 112.94%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on APLE shares. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a report on Monday, December 9th. They set an "outperform" rating and a $18.00 price objective for the company. StockNews.com raised shares of Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research note on Friday, November 22nd. Oppenheimer reissued an "outperform" rating and issued a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Bank of America upgraded shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and raised their price objective for the company from $16.00 to $17.00 in a research report on Monday, January 27th. Finally, Wells Fargo & Company cut their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of "Moderate Buy" and an average target price of $16.80.
Get Our Latest Analysis on APLE
Apple Hospitality REIT Company Profile
(
Free Report)
Apple Hospitality REIT, Inc NYSE: APLE is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.
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