Connor Clark & Lunn Investment Management Ltd. Takes $611,000 Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 41,159 shares of the real estate investment trust's stock, valued at approximately $611,000.

Several other hedge funds also recently modified their holdings of the stock. EdgeRock Capital LLC acquired a new position in shares of Apple Hospitality REIT during the second quarter valued at about $26,000. Quarry LP increased its holdings in shares of Apple Hospitality REIT by 127.5% during the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 1,290 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Apple Hospitality REIT by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 780 shares in the last quarter. Headlands Technologies LLC lifted its holdings in shares of Apple Hospitality REIT by 4,406.5% in the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust's stock worth $81,000 after purchasing an additional 5,420 shares in the last quarter. Finally, Palouse Capital Management Inc. bought a new stake in shares of Apple Hospitality REIT during the second quarter worth about $99,000. Institutional investors own 89.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Oppenheimer reaffirmed 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. Finally, StockNews.com raised Apple Hospitality REIT from a "sell" rating to a "hold" rating in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Apple Hospitality REIT has a consensus rating of "Hold" and an average price target of $16.50.

Apple Hospitality REIT Trading Down 0.1 %

Shares of Apple Hospitality REIT stock traded down $0.01 during midday trading on Friday, reaching $16.11. 1,021,832 shares of the company's stock traded hands, compared to its average volume of 2,037,074. The stock has a 50 day moving average of $15.29 and a 200-day moving average of $14.73. Apple Hospitality REIT, Inc. has a 12 month low of $13.60 and a 12 month high of $17.90. The company has a market cap of $3.87 billion, a PE ratio of 19.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). The company had revenue of $378.84 million for the quarter, compared to analysts' expectations of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same quarter in the prior year, the firm earned $0.45 EPS. As a group, equities analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 5.96%. Apple Hospitality REIT's dividend payout ratio (DPR) is 112.94%.

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.