Rhumbline Advisers Grows Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Rhumbline Advisers lifted its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 716,711 shares of the real estate investment trust’s stock after buying an additional 12,143 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Apple Hospitality REIT worth $11,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in APLE. GAMMA Investing LLC grew its holdings in Apple Hospitality REIT by 80.9% during the 4th quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 2,193 shares in the last quarter. Covestor Ltd grew its stake in Apple Hospitality REIT by 30.0% in the third quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 1,831 shares in the last quarter. KBC Group NV grew its stake in Apple Hospitality REIT by 37.8% in the fourth quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 2,541 shares in the last quarter. Entropy Technologies LP bought a new stake in Apple Hospitality REIT in the fourth quarter valued at about $159,000. Finally, Blue Trust Inc. raised its stake in Apple Hospitality REIT by 21.3% during the third quarter. Blue Trust Inc. now owns 11,716 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 2,059 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on APLE. Oppenheimer reiterated an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Wells Fargo & Company decreased their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their price target for the stock from $16.00 to $17.00 in a research report on Monday, January 27th. Finally, BMO Capital Markets assumed 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 objective for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.80.

Apple Hospitality REIT Stock Performance

APLE stock opened at $14.79 on Monday. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $16.99. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 17.39 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The stock’s fifty day moving average is $15.29 and its two-hundred day moving average is $15.12.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 6.49%. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

Apple Hospitality REIT 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.