Foundry Partners LLC grew its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 29.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 474,672 shares of the real estate investment trust's stock after acquiring an additional 108,523 shares during the quarter. Foundry Partners LLC owned about 0.20% of Apple Hospitality REIT worth $7,049,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in APLE. Vanguard Group Inc. grew its position in Apple Hospitality REIT by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust's stock worth $582,400,000 after purchasing an additional 1,217,142 shares during the last quarter. Victory Capital Management Inc. grew its position in Apple Hospitality REIT by 17.2% during the second quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust's stock worth $87,518,000 after buying an additional 881,217 shares during the period. Edgestream Partners L.P. raised its holdings in Apple Hospitality REIT by 400.8% during the second quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust's stock worth $9,286,000 after purchasing an additional 511,100 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Apple Hospitality REIT by 911.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 388,414 shares of the real estate investment trust's stock worth $5,648,000 after buying an additional 350,000 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. grew its position in shares of Apple Hospitality REIT by 3,768.4% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,156 shares of the real estate investment trust's stock valued at $5,062,000 after purchasing an additional 339,156 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. StockNews.com lowered Apple Hospitality REIT from a "hold" rating to a "sell" rating in a research note on Thursday, November 14th. Wells Fargo & Company reduced their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Friday, September 13th. Finally, Oppenheimer reiterated an "outperform" rating and set a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $16.50.
Get Our Latest Analysis on APLE
Apple Hospitality REIT Trading Up 2.4 %
Shares of Apple Hospitality REIT stock traded up $0.37 during trading hours on Thursday, reaching $15.74. 1,059,138 shares of the company's stock were exchanged, compared to its average volume of 2,044,456. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 18.51 and a beta of 1.11. 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 52-week low of $13.60 and a 52-week high of $17.90. The company has a fifty day moving average of $15.09 and a 200-day moving average of $14.67.
Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. During the same period in the previous year, the business posted $0.45 earnings per share. Sell-side analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.
Apple Hospitality REIT Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend is Friday, November 29th. Apple Hospitality REIT's dividend payout ratio (DPR) is 112.94%.
About Apple Hospitality REIT
(
Free Report)
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.
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