HighTower Advisors LLC Purchases Shares of 13,523 Apple Hospitality REIT, Inc. (NYSE:APLE)

HighTower Advisors LLC acquired a new position in Apple Hospitality REIT, Inc. (NYSE:APLE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,523 shares of the real estate investment trust’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP grew its holdings in Apple Hospitality REIT by 127.5% in the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,290 shares during the period. GAMMA Investing LLC grew its stake in Apple Hospitality REIT by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 780 shares during the period. Headlands Technologies LLC increased its holdings in Apple Hospitality REIT by 4,406.5% in the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 5,420 shares in the last quarter. Palouse Capital Management Inc. acquired a new position in Apple Hospitality REIT during the second quarter worth $99,000. Finally, Covestor Ltd lifted its holdings in Apple Hospitality REIT by 30.0% during the third quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 1,831 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on APLE. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They set an “outperform” rating and a $18.00 price target for the company. Oppenheimer reissued an “outperform” rating and set a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Wells Fargo & Company lowered their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.80.

Apple Hospitality REIT Stock Up 0.6 %

Shares of NYSE:APLE opened at $15.71 on Thursday. Apple Hospitality REIT, Inc. has a 52-week low of $13.60 and a 52-week high of $17.11. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $15.62 and a two-hundred day moving average of $14.92. The stock has a market cap of $3.77 billion, a P/E ratio of 18.48 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22). The firm had revenue of $378.84 million for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.45 EPS. On average, research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date of this dividend is Tuesday, December 31st. Apple Hospitality REIT’s payout ratio is 112.94%.

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.