Alliancebernstein L.P. Has $13.48 Million Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Alliancebernstein L.P. trimmed its stake in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 5.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 878,172 shares of the real estate investment trust's stock after selling 51,134 shares during the quarter. Alliancebernstein L.P. owned approximately 0.37% of Apple Hospitality REIT worth $13,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Apple Hospitality REIT in the fourth quarter worth $51,000. GAMMA Investing LLC boosted its position in Apple Hospitality REIT by 80.9% during the 4th quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust's stock worth $75,000 after acquiring an additional 2,193 shares during the period. KBC Group NV grew its stake in Apple Hospitality REIT by 37.8% during the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust's stock valued at $142,000 after acquiring an additional 2,541 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Apple Hospitality REIT in the 4th quarter valued at about $159,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Apple Hospitality REIT in the fourth quarter worth approximately $167,000. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Up 0.5 %

NYSE APLE traded up $0.06 during trading on Tuesday, reaching $11.56. The company's stock had a trading volume of 285,485 shares, compared to its average volume of 2,186,701. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.76 billion, a PE ratio of 13.59 and a beta of 1.00. Apple Hospitality REIT, Inc. has a 1-year low of $10.44 and a 1-year high of $16.50. The business has a 50-day moving average price of $13.68 and a 200-day moving average price of $14.79.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $333.04 million during the quarter, compared to analyst estimates of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. On average, research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 8.30%. Apple Hospitality REIT's payout ratio is currently 109.09%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APLE shares. Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Bank of America upgraded shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their price target for the company from $16.00 to $17.00 in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.80.

About Apple Hospitality REIT

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.