Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Acquired by Covestor Ltd

Covestor Ltd boosted its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 24.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,886 shares of the real estate investment trust’s stock after buying an additional 1,954 shares during the quarter. Covestor Ltd’s holdings in Apple Hospitality REIT were worth $152,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in shares of Apple Hospitality REIT by 0.4% during the fourth 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 last quarter. Geode Capital Management LLC boosted its stake in shares of Apple Hospitality REIT by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock worth $85,571,000 after purchasing an additional 62,149 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Apple Hospitality REIT by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 5,243,575 shares of the real estate investment trust’s stock worth $77,867,000 after buying an additional 18,858 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Apple Hospitality REIT by 3.0% in the fourth 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 during the last quarter. Finally, Norges Bank purchased a new position in shares of Apple Hospitality REIT during the fourth quarter valued at approximately $21,099,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock opened at $11.48 on Friday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 13.50 and a beta of 1.00. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50. 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’s 50-day moving average is $13.76 and its 200-day moving average is $14.82.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The firm had revenue of $333.04 million for the quarter, compared to analyst estimates of $330.11 million. Equities analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 8.37%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 109.09%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APLE. Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Moderate Buy” and an average target price of $16.80.

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.