Martingale Asset Management L P Has $609,000 Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Martingale Asset Management L P lowered its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 76.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,981 shares of the real estate investment trust's stock after selling 129,779 shares during the quarter. Martingale Asset Management L P's holdings in Apple Hospitality REIT were worth $609,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 780 shares during the period. Amalgamated Bank boosted its holdings in Apple Hospitality REIT by 1.2% during the second quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust's stock worth $996,000 after purchasing an additional 813 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Apple Hospitality REIT by 6.0% during the third quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust's stock worth $241,000 after purchasing an additional 921 shares during the last quarter. Ellis Investment Partners LLC boosted its holdings 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 during the last quarter. Finally, Inspire Advisors LLC boosted its holdings in 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 purchasing an additional 1,008 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on APLE. Oppenheimer restated an "outperform" rating and set a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Wells Fargo & Company reduced their target price on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Friday, September 13th. Finally, StockNews.com raised shares of Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of "Hold" and a consensus price target of $16.50.

Apple Hospitality REIT Stock Performance

Shares of APLE traded up $0.11 during trading hours on Tuesday, hitting $16.22. The company had a trading volume of 2,011,670 shares, compared to its average volume of 1,741,350. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 19.08 and a beta of 1.13. The business has a fifty day moving average of $15.32 and a 200-day moving average of $14.75. Apple Hospitality REIT, Inc. has a 12 month low of $13.60 and a 12 month high of $17.90. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. During the same period in the previous year, the company earned $0.45 earnings per share. Equities analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date is Friday, November 29th. Apple Hospitality REIT's dividend payout ratio is 112.94%.

About Apple Hospitality REIT

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.