KLP Kapitalforvaltning AS Takes Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

KLP Kapitalforvaltning AS purchased a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 66,800 shares of the real estate investment trust's stock, valued at approximately $1,033,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in Apple Hospitality REIT by 0.4% in the 4th quarter. Victory Capital Management Inc. now owns 6,767,740 shares of the real estate investment trust's stock valued at $103,885,000 after acquiring an additional 29,781 shares during the period. Geode Capital Management LLC raised its position in shares of Apple Hospitality REIT by 1.1% in the third quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust's stock valued at $85,571,000 after purchasing an additional 62,149 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Apple Hospitality REIT by 0.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,243,575 shares of the real estate investment trust's stock valued at $77,867,000 after buying an additional 18,858 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Apple Hospitality REIT by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust's stock valued at $70,465,000 after buying an additional 133,505 shares in the last quarter. Finally, Systematic Financial Management LP boosted its holdings in Apple Hospitality REIT by 11.0% in 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 buying an additional 207,256 shares during the period. Institutional investors own 89.66% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Bank of America upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and increased their target price for the stock from $16.00 to $17.00 in a research report on Monday, January 27th. Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Finally, BMO Capital Markets started coverage on Apple Hospitality REIT in a research report on Monday, December 9th. They set an "outperform" rating and a $18.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $16.80.

Apple Hospitality REIT Trading Down 9.3 %

Apple Hospitality REIT stock traded down $1.21 during trading hours on Thursday, reaching $11.70. The stock had a trading volume of 6,584,388 shares, compared to its average volume of 2,101,360. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market cap of $2.80 billion, a PE ratio of 13.76 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 52 week low of $11.59 and a 52 week high of $16.50. The company has a fifty day simple moving average of $14.41 and a 200-day simple moving average of $15.02.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $333.04 million during the quarter, compared to analyst estimates of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. Analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.21%. The ex-dividend date of this dividend is Monday, March 31st. Apple Hospitality REIT's payout ratio is 109.09%.

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.