Martingale Asset Management L P Purchases 54,661 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Martingale Asset Management L P boosted its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 133.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,642 shares of the real estate investment trust’s stock after purchasing an additional 54,661 shares during the quarter. Martingale Asset Management L P’s holdings in Apple Hospitality REIT were worth $1,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Apple Hospitality REIT during the fourth quarter valued at approximately $21,099,000. ExodusPoint Capital Management LP raised its position in Apple Hospitality REIT by 126.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 899,842 shares of the real estate investment trust’s stock worth $13,813,000 after acquiring an additional 503,114 shares during the period. Advisors Preferred LLC bought a new position in Apple Hospitality REIT in the 4th quarter worth $4,651,000. Raymond James Financial Inc. purchased a new position in shares of Apple Hospitality REIT during the 4th quarter valued at about $3,844,000. Finally, Barclays PLC lifted its holdings in Apple Hospitality REIT by 118.8% during the third quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust’s stock valued at $6,273,000 after purchasing an additional 229,293 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on APLE. Wells Fargo & Company dropped their price objective on 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. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Apple Hospitality REIT currently has an average rating of “Moderate Buy” and an average price target of $16.80.

Apple Hospitality REIT Trading Up 1.5 %

NYSE:APLE opened at $11.48 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a 50-day simple moving average of $13.76 and a 200-day simple moving average of $14.82. Apple Hospitality REIT, Inc. has a one year low of $10.44 and a one year high of $16.50. The firm has a market cap of $2.75 billion, a P/E ratio of 13.50 and a beta of 1.00.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The company 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 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

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

Apple Hospitality REIT Company 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.