Wolverine Asset Management LLC Buys New Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Wolverine Asset Management LLC bought a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE) in the fourth quarter, HoldingsChannel reports. The fund bought 120,032 shares of the real estate investment trust’s stock, valued at approximately $1,994,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in Apple Hospitality REIT during the 4th quarter worth $41,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Apple Hospitality REIT during the fourth quarter worth about $2,081,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Apple Hospitality REIT by 14.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,103 shares of the real estate investment trust’s stock worth $616,000 after acquiring an additional 4,694 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in Apple Hospitality REIT by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 310,624 shares of the real estate investment trust’s stock valued at $5,159,000 after purchasing an additional 150,965 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in Apple Hospitality REIT by 1.3% during the 4th quarter. Mackenzie Financial Corp now owns 517,350 shares of the real estate investment trust’s stock valued at $8,593,000 after purchasing an additional 6,839 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Down 1.4 %

APLE stock opened at $15.26 on Thursday. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 19.56 and a beta of 1.08. Apple Hospitality REIT, Inc. has a 1-year low of $14.22 and a 1-year high of $17.90. The firm has a fifty day moving average price of $16.12 and a two-hundred day moving average price of $16.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.36 and a quick ratio of 0.36.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.29%. The ex-dividend date of this dividend is Monday, April 29th. Apple Hospitality REIT’s dividend payout ratio (DPR) is 123.08%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on APLE shares. Bank of America cut Apple Hospitality REIT from a “buy” rating to a “neutral” rating and reduced their target price for the company from $19.00 to $18.00 in a research note on Monday, January 8th. StockNews.com lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $18.40.

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.