Econ Financial Services Corp Takes Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Econ Financial Services Corp acquired a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 24,374 shares of the real estate investment trust's stock, valued at approximately $374,000.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its stake in Apple Hospitality REIT by 11.9% during the third quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust's stock worth $100,059,000 after purchasing an additional 718,844 shares during the period. Holocene Advisors LP acquired a new stake in Apple Hospitality REIT during the third quarter worth $4,285,000. Barclays PLC raised its position in Apple Hospitality REIT by 118.8% in the third quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust's stock valued at $6,273,000 after purchasing an additional 229,293 shares during the period. Systematic Financial Management LP grew its holdings in shares of Apple Hospitality REIT by 11.0% during the 3rd quarter. Systematic Financial Management LP now owns 2,099,877 shares of the real estate investment trust's stock worth $31,183,000 after purchasing an additional 207,256 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Apple Hospitality REIT by 1,110.9% during the 4th quarter. SG Americas Securities LLC now owns 205,409 shares of the real estate investment trust's stock worth $3,153,000 after purchasing an additional 188,446 shares during the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They set an "outperform" rating and a $18.00 target price for the company. Bank of America upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $16.00 to $17.00 in a report on Monday, January 27th. Oppenheimer reiterated an "outperform" rating and set a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, StockNews.com raised shares of Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Apple Hospitality REIT currently has an average rating of "Moderate Buy" and a consensus target price of $16.60.

Apple Hospitality REIT Stock Down 1.3 %

Shares of Apple Hospitality REIT stock traded down $0.21 during trading on Friday, hitting $15.65. 1,831,497 shares of the stock were exchanged, compared to its average volume of 1,484,682. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 18.41 and a beta of 1.13. The firm's 50-day moving average price is $15.47 and its 200 day moving average price is $15.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $16.99.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend is Friday, January 31st. Apple Hospitality REIT's dividend payout ratio (DPR) is 112.94%.

Apple Hospitality REIT 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.