Cibc World Markets Corp Acquires New Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Cibc World Markets Corp purchased a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 21,336 shares of the real estate investment trust's stock, valued at approximately $328,000.

A number of other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Apple Hospitality REIT by 80.9% in the 4th quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust's stock valued at $75,000 after buying an additional 2,193 shares during the period. KBC Group NV increased its holdings 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 worth $142,000 after purchasing an additional 2,541 shares during the period. Entropy Technologies LP acquired a new stake in Apple Hospitality REIT in the 4th quarter valued at about $159,000. Proficio Capital Partners LLC acquired a new position in shares of Apple Hospitality REIT during the fourth quarter worth about $167,000. Finally, TD Private Client Wealth LLC increased its stake in shares of Apple Hospitality REIT by 14.6% during the third quarter. TD Private Client Wealth LLC now owns 11,727 shares of the real estate investment trust's stock worth $174,000 after buying an additional 1,490 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Performance

Shares of NYSE APLE traded down $0.13 during trading hours on Friday, reaching $12.86. The stock had a trading volume of 1,972,076 shares, compared to its average volume of 2,065,638. The firm has a 50-day moving average of $14.61 and a 200-day moving average of $15.06. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 15.12 and a beta of 1.12. 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, Inc. has a fifty-two week low of $12.77 and a fifty-two week high of $16.60.

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Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The company had revenue of $333.04 million for the quarter, compared to the consensus estimate of $330.11 million. Equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current 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 paid a $0.08 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a dividend yield of 7.47%. Apple Hospitality REIT's dividend payout ratio (DPR) is currently 109.09%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APLE. Bank of America upgraded shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Finally, BMO Capital Markets began coverage on Apple Hospitality REIT in a research report on Monday, December 9th. They set an "outperform" rating and a $18.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.80.

Apple Hospitality REIT Company Profile

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.