Cozad Asset Management Inc. Acquires Shares of 92,952 Apple Hospitality REIT, Inc. (NYSE:APLE)

Cozad Asset Management Inc. acquired a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 92,952 shares of the real estate investment trust's stock, valued at approximately $1,380,000.

A number of other hedge funds have also recently modified their holdings of the company. EdgeRock Capital LLC purchased a new position in Apple Hospitality REIT in the 2nd quarter worth about $26,000. Quarry LP raised its stake in Apple Hospitality REIT by 127.5% during the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 1,290 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust's stock worth $40,000 after buying an additional 780 shares in the last quarter. Covestor Ltd grew its position in shares of Apple Hospitality REIT by 115.6% during the first quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust's stock valued at $71,000 after purchasing an additional 2,313 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in 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 acquiring an additional 5,420 shares during the last quarter. Hedge funds and other institutional investors own 89.66% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday. Wells Fargo & Company reduced their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. Finally, StockNews.com raised Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $16.50.

Apple Hospitality REIT Price Performance

APLE stock traded up $0.29 during mid-day trading on Friday, reaching $15.90. The company's stock had a trading volume of 977,889 shares, compared to its average volume of 2,059,128. Apple Hospitality REIT, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $17.90. The stock has a market cap of $3.85 billion, a PE ratio of 18.56 and a beta of 1.11. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The company's 50 day moving average is $14.81 and its two-hundred day moving average is $14.63.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). The firm had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.16%. During the same period in the prior year, the firm earned $0.45 earnings per share. Equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Thursday, October 31st. Apple Hospitality REIT's payout ratio is currently 112.94%.

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.