Geode Capital Management LLC Boosts Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Geode Capital Management LLC boosted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,761,364 shares of the real estate investment trust's stock after acquiring an additional 62,149 shares during the quarter. Geode Capital Management LLC owned about 2.40% of Apple Hospitality REIT worth $85,571,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake 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 valued at $40,000 after acquiring an additional 780 shares during the period. Amalgamated Bank increased its holdings in Apple Hospitality REIT by 1.2% in the 2nd quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust's stock valued at $996,000 after purchasing an additional 813 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in Apple Hospitality REIT by 6.0% in the third quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust's stock valued at $241,000 after purchasing an additional 921 shares during the period. Ellis Investment Partners LLC lifted its stake in Apple Hospitality REIT by 4.6% during the third quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust's stock worth $318,000 after purchasing an additional 948 shares in the last quarter. Finally, Inspire Advisors LLC boosted its position in shares of Apple Hospitality REIT by 8.2% during the third quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust's stock worth $198,000 after buying an additional 1,008 shares during the period. Institutional investors and hedge funds own 89.66% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on APLE shares. Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating for the company in a research note on Friday, September 13th. StockNews.com raised Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research report on Friday, November 22nd. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They issued an "outperform" rating and a $18.00 price objective for the company. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $16.80.

Apple Hospitality REIT Stock Up 1.8 %

APLE stock traded up $0.27 during mid-day trading on Friday, reaching $15.61. The company had a trading volume of 5,723,296 shares, compared to its average volume of 2,032,749. Apple Hospitality REIT, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $17.30. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 18.36 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a fifty day simple moving average of $15.58 and a 200 day simple moving average of $14.88.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued 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). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The firm had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. During the same period last year, the business earned $0.45 EPS. Analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.15%. Apple Hospitality REIT's dividend payout ratio (DPR) 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.