Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Apple Hospitality REIT Inc (NYSE:APLE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 161,296 shares of the real estate investment trust’s stock, valued at approximately $3,162,000.
Other institutional investors also recently modified their holdings of the company. Global X Management Co. LLC increased its position in Apple Hospitality REIT by 21.7% during the 4th quarter. Global X Management Co. LLC now owns 90,763 shares of the real estate investment trust’s stock valued at $1,780,000 after purchasing an additional 16,175 shares during the period. Aperio Group LLC increased its position in Apple Hospitality REIT by 63.0% during the 4th quarter. Aperio Group LLC now owns 200,255 shares of the real estate investment trust’s stock valued at $3,927,000 after purchasing an additional 77,379 shares during the period. American Century Companies Inc. increased its position in Apple Hospitality REIT by 342.0% during the 4th quarter. American Century Companies Inc. now owns 1,271,120 shares of the real estate investment trust’s stock valued at $24,927,000 after purchasing an additional 983,516 shares during the period. Evermay Wealth Management LLC purchased a new position in Apple Hospitality REIT during the 4th quarter valued at $218,000. Finally, Meeder Asset Management Inc. increased its position in Apple Hospitality REIT by 18,851.3% during the 4th quarter. Meeder Asset Management Inc. now owns 50,979 shares of the real estate investment trust’s stock valued at $999,000 after purchasing an additional 50,710 shares during the period. 54.49% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on APLE. Barclays restated an “equal weight” rating and set a $20.00 target price (down previously from $21.00) on shares of Apple Hospitality REIT in a report on Tuesday, February 27th. Zacks Investment Research cut shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. KeyCorp began coverage on shares of Apple Hospitality REIT in a report on Friday, January 12th. They set a “sector weight” rating on the stock. Robert W. Baird set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a “buy” rating in a report on Monday, February 26th. Finally, TheStreet upgraded shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a report on Friday, December 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.20.
Shares of APLE stock opened at $16.85 on Friday. Apple Hospitality REIT Inc has a fifty-two week low of $16.72 and a fifty-two week high of $20.19. The company has a market cap of $3,991.74, a price-to-earnings ratio of 20.80, a PEG ratio of 1.99 and a beta of 0.72. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.13.
Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. Apple Hospitality REIT had a net margin of 14.73% and a return on equity of 5.19%. The firm had revenue of $289.07 million for the quarter, compared to analysts’ expectations of $288.75 million. During the same quarter in the previous year, the business posted $0.37 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. sell-side analysts forecast that Apple Hospitality REIT Inc will post 1.74 earnings per share for the current year.
The company also recently declared a monthly dividend, which will be paid on Monday, April 16th. Investors 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 yield of 7.12%. The ex-dividend date of this dividend is Monday, April 2nd. Apple Hospitality REIT’s payout ratio is 148.15%.
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About Apple Hospitality REIT
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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