Cutler Capital Management LLC Buys 26,269 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Cutler Capital Management LLC lifted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 268,970 shares of the real estate investment trust's stock after buying an additional 26,269 shares during the period. Apple Hospitality REIT accounts for approximately 1.4% of Cutler Capital Management LLC's holdings, making the stock its 26th biggest position. Cutler Capital Management LLC owned 0.11% of Apple Hospitality REIT worth $4,129,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Apple Hospitality REIT during the fourth quarter valued at approximately $3,844,000. Martingale Asset Management L P boosted its position in Apple Hospitality REIT by 133.4% during the 4th quarter. Martingale Asset Management L P now owns 95,642 shares of the real estate investment trust's stock worth $1,468,000 after acquiring an additional 54,661 shares during the period. FIL Ltd grew its stake in shares of Apple Hospitality REIT by 76.4% in the fourth quarter. FIL Ltd now owns 8,599 shares of the real estate investment trust's stock worth $132,000 after purchasing an additional 3,725 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Apple Hospitality REIT by 6.1% during the fourth quarter. Bank of Montreal Can now owns 100,478 shares of the real estate investment trust's stock valued at $1,542,000 after purchasing an additional 5,783 shares during the period. Finally, Polymer Capital Management US LLC bought a new stake in shares of Apple Hospitality REIT during the fourth quarter valued at about $197,000. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE traded down $0.22 during mid-day trading on Monday, reaching $11.25. The company had a trading volume of 750,971 shares, compared to its average volume of 2,189,063. Apple Hospitality REIT, Inc. has a 1-year low of $10.44 and a 1-year high of $16.50. The stock has a market cap of $2.69 billion, a PE ratio of 13.24 and a beta of 1.00. 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 company has a 50-day moving average price of $13.76 and a two-hundred day moving average price of $14.82.

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

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.08 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.53%. Apple Hospitality REIT's dividend payout ratio is currently 109.09%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company lowered their target price 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 raised 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 report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.