Versor Investments LP Acquires Shares of 35,400 Apple Hospitality REIT, Inc. (NYSE:APLE)

Versor Investments LP purchased a new position in Apple Hospitality REIT, Inc. (NYSE:APLE) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 35,400 shares of the real estate investment trust’s stock, valued at approximately $526,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D boosted its holdings in shares of Apple Hospitality REIT by 2.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 267,395 shares of the real estate investment trust’s stock valued at $3,971,000 after buying an additional 6,304 shares during the period. Covestor Ltd boosted 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 valued at $118,000 after acquiring an additional 1,831 shares during the period. Cozad Asset Management Inc. acquired a new position in Apple Hospitality REIT in the third quarter valued at approximately $1,380,000. QRG Capital Management Inc. grew its holdings in shares of Apple Hospitality REIT by 24.8% during the third quarter. QRG Capital Management Inc. now owns 127,951 shares of the real estate investment trust’s stock valued at $1,900,000 after purchasing an additional 25,459 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of Apple Hospitality REIT by 5.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 381,730 shares of the real estate investment trust’s stock worth $5,669,000 after purchasing an additional 20,940 shares during the period. Institutional investors own 89.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday. Oppenheimer reissued an “outperform” rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Apple Hospitality REIT has an average rating of “Hold” and a consensus price target of $16.50.

Apple Hospitality REIT Stock Down 0.1 %

APLE opened at $15.89 on Thursday. The stock’s 50 day moving average price is $14.94 and its 200 day moving average price is $14.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market cap of $3.81 billion, a P/E ratio of 18.69 and a beta of 1.11. 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 issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $0.45 earnings per share. As a group, research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date of this dividend is Thursday, October 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.