Intech Investment Management LLC Invests $887,000 in Apple Hospitality REIT, Inc. (NYSE:APLE)

Intech Investment Management LLC purchased a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 59,708 shares of the real estate investment trust’s stock, valued at approximately $887,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of APLE. GAMMA Investing LLC raised its position in Apple Hospitality REIT by 40.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 780 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Apple Hospitality REIT by 1.2% in the second quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock valued at $996,000 after acquiring an additional 813 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in shares of Apple Hospitality REIT by 6.0% in the third quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust’s stock valued at $241,000 after acquiring an additional 921 shares in the last quarter. Ellis Investment Partners LLC lifted its stake in Apple Hospitality REIT by 4.6% in the third quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust’s stock worth $318,000 after acquiring an additional 948 shares during the period. Finally, Inspire Advisors LLC grew its holdings in Apple Hospitality REIT by 8.2% during the 3rd quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 1,008 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

NYSE APLE opened at $16.20 on Friday. The firm’s fifty day simple moving average is $15.27 and its two-hundred day simple moving average is $14.72. The firm has a market capitalization of $3.89 billion, a P/E ratio of 19.06 and a beta of 1.11. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). The business had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same period in the prior year, the company earned $0.45 earnings per share. Analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date of this dividend is Friday, November 29th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on APLE shares. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Wells Fargo & Company lowered their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Apple Hospitality REIT has an average rating of “Hold” and an average target price of $16.50.

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.