Elkfork Partners LLC purchased a new position in shares of Apple Hospitality REIT Inc (NYSE:APLE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 21,140 shares of the real estate investment trust’s stock, valued at approximately $415,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE lifted its holdings in Apple Hospitality REIT by 132.3% during the 4th quarter. US Bancorp DE now owns 5,479 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 3,120 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Apple Hospitality REIT by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 494 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Apple Hospitality REIT by 67.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 11,071 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 4,468 shares in the last quarter. Evermay Wealth Management LLC acquired a new position in Apple Hospitality REIT during the 4th quarter worth $218,000. Finally, Cadence Capital Management LLC lifted its holdings in Apple Hospitality REIT by 28.6% during the 3rd quarter. Cadence Capital Management LLC now owns 15,241 shares of the real estate investment trust’s stock worth $288,000 after buying an additional 3,394 shares in the last quarter. Institutional investors and hedge funds own 54.49% of the company’s stock.
Several research analysts have issued reports on APLE shares. Barclays reaffirmed an “equal weight” rating and set a $20.00 price objective (down previously from $21.00) on shares of Apple Hospitality REIT in a report on Tuesday, February 27th. Zacks Investment Research downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. KeyCorp started coverage on Apple Hospitality REIT in a research note on Friday, January 12th. They issued a “sector weight” rating on the stock. Robert W. Baird set a $20.00 price target on Apple Hospitality REIT and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, TheStreet raised Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $20.20.
In other Apple Hospitality REIT news, insider Glade M. Knight acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were acquired at an average price of $17.16 per share, with a total value of $171,600.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nelson Knight acquired 4,313 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were acquired at an average cost of $17.35 per share, for a total transaction of $74,830.55. The disclosure for this purchase can be found here. In the last three months, insiders bought 33,504 shares of company stock worth $573,262. 6.30% of the stock is currently owned by company insiders.
Apple Hospitality REIT stock opened at $17.34 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market capitalization of $3,989.44, a price-to-earnings ratio of 9.96, a PEG ratio of 1.99 and a beta of 0.72. Apple Hospitality REIT Inc has a 12 month low of $16.72 and a 12 month high of $20.19.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36. The company had revenue of $289.07 million for the quarter, compared to the consensus estimate of $288.75 million. Apple Hospitality REIT had a return on equity of 5.19% and a net margin of 14.73%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 EPS. sell-side analysts forecast that Apple Hospitality REIT Inc will post 1.74 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Monday, April 16th. Stockholders of record on Tuesday, April 3rd will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date is Monday, April 2nd. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 148.15%.
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Apple Hospitality REIT Company Profile
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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