UBS Group AG lifted its position in Apple Hospitality REIT, Inc. (NYSE:APLE – Free Report) by 60.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,721,481 shares of the real estate investment trust’s stock after buying an additional 1,786,018 shares during the period. UBS Group AG’s holdings in Apple Hospitality REIT were worth $55,950,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Apple Hospitality REIT by 7.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,306,184 shares of the real estate investment trust’s stock worth $39,707,000 after purchasing an additional 215,355 shares during the last quarter. Centerbridge Partners L.P. grew its position in Apple Hospitality REIT by 18.4% during the 3rd quarter. Centerbridge Partners L.P. now owns 2,247,785 shares of the real estate investment trust’s stock worth $26,996,000 after purchasing an additional 350,000 shares during the last quarter. Bank of America Corp DE grew its position in Apple Hospitality REIT by 11.6% during the 3rd quarter. Bank of America Corp DE now owns 2,125,063 shares of the real estate investment trust’s stock worth $25,522,000 after purchasing an additional 220,434 shares during the last quarter. Ameriprise Financial Inc. grew its position in Apple Hospitality REIT by 26.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,781,420 shares of the real estate investment trust’s stock worth $20,789,000 after purchasing an additional 374,979 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Apple Hospitality REIT by 31.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,772,663 shares of the real estate investment trust’s stock worth $21,290,000 after purchasing an additional 421,876 shares during the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.
Wall Street Analysts Forecast Growth
APLE has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 target price on shares of Apple Hospitality REIT in a research report on Tuesday, March 3rd. Barclays reduced their price target on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Wednesday, April 22nd. LADENBURG THALM/SH SH initiated coverage on shares of Apple Hospitality REIT in a report on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 24th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.64.
Apple Hospitality REIT Stock Performance
Shares of NYSE APLE opened at $13.61 on Wednesday. The company’s fifty day moving average price is $12.29 and its 200 day moving average price is $12.05. Apple Hospitality REIT, Inc. has a 1 year low of $10.85 and a 1 year high of $13.68. The company has a market capitalization of $3.21 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 8.07 and a beta of 0.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.40 and a current ratio of 0.40.
Apple Hospitality REIT (NYSE:APLE – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.41%. The firm had revenue of $337.74 million for the quarter, compared to the consensus estimate of $327.81 million. On average, research analysts predict that Apple Hospitality REIT, Inc. will post 1.51 earnings per share for the current year.
Apple Hospitality REIT Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 30th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 7.1%. Apple Hospitality REIT’s dividend payout ratio is 129.73%.
Apple Hospitality REIT Company Profile
Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.
The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.
See Also
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