Neo Ivy Capital Management Acquires New Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Neo Ivy Capital Management acquired a new position in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 119,780 shares of the real estate investment trust's stock, valued at approximately $1,778,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Victory Capital Management Inc. increased its holdings in Apple Hospitality REIT by 17.2% in the second quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust's stock valued at $87,518,000 after purchasing an additional 881,217 shares during the last quarter. Edgestream Partners L.P. grew its holdings in shares of 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 buying an additional 511,100 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in Apple Hospitality REIT by 911.1% during the second quarter. Westwood Holdings Group Inc. now owns 388,414 shares of the real estate investment trust's stock valued at $5,648,000 after purchasing an additional 350,000 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its position in Apple Hospitality REIT by 3,768.4% during 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. Finally, Holocene Advisors LP acquired a new position in Apple Hospitality REIT during the third quarter valued at approximately $4,285,000. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE remained flat at $16.26 during mid-day trading on Wednesday. The company had a trading volume of 619,721 shares, compared to its average volume of 2,024,018. 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 12 month low of $13.60 and a 12 month high of $17.90. The firm has a market capitalization of $3.90 billion, a P/E ratio of 19.14 and a beta of 1.13. The firm's fifty day simple moving average is $15.46 and its 200 day simple moving average is $14.81.

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 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.22). The company had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share 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. Stockholders of record on Friday, November 29th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Friday, November 29th. Apple Hospitality REIT's payout ratio is currently 112.94%.

Wall Street Analyst Weigh In

APLE has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report 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 began coverage on Apple Hospitality REIT in a research report on Monday. They issued an "outperform" rating and a $18.00 price objective for the company. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Apple Hospitality REIT has an average rating of "Hold" and an average price target of $16.80.

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.