JPMorgan Chase & Co. Grows Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

JPMorgan Chase & Co. raised its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,243,575 shares of the real estate investment trust’s stock after buying an additional 18,858 shares during the quarter. JPMorgan Chase & Co. owned about 2.19% of Apple Hospitality REIT worth $77,867,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Masterton Capital Management LP purchased a new position in Apple Hospitality REIT in the 2nd quarter worth about $3,378,000. Dimensional Fund Advisors LP raised its holdings in Apple Hospitality REIT by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after purchasing an additional 154,159 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Apple Hospitality REIT by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock valued at $66,187,000 after acquiring an additional 182,917 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of Apple Hospitality REIT in the 3rd quarter worth $1,067,000. Finally, Barclays PLC grew its stake in shares of Apple Hospitality REIT by 118.8% during the third quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust’s stock worth $6,273,000 after acquiring an additional 229,293 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Oppenheimer restated an “outperform” rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. BMO Capital Markets started coverage on 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. Finally, Wells Fargo & Company reduced their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus target price of $16.80.

Apple Hospitality REIT Stock Down 1.4 %

Shares of APLE opened at $15.14 on Friday. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 17.81 and a beta of 1.13. Apple Hospitality REIT, Inc. has a 52 week low of $13.60 and a 52 week high of $17.08. The stock’s 50-day moving average price is $15.68 and its 200-day moving average price is $14.95. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data 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 company 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 business earned $0.45 earnings per share. On average, sell-side analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Apple Hospitality REIT’s dividend payout ratio is currently 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.