Zurcher Kantonalbank Zurich Cantonalbank Sells 2,238 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 1.7% in the 3rd quarter, Holdings Channel reports. The fund owned 131,957 shares of the real estate investment trust’s stock after selling 2,238 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Apple Hospitality REIT were worth $1,960,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in APLE. EdgeRock Capital LLC bought a new position in Apple Hospitality REIT in the second quarter valued at $26,000. Quarry LP grew its position 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 in the last quarter. GAMMA Investing LLC grew its position in Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 780 shares in the last quarter. Headlands Technologies LLC grew its position in Apple Hospitality REIT by 4,406.5% in the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 5,420 shares in the last quarter. Finally, Palouse Capital Management Inc. bought a new position in shares of Apple Hospitality REIT in the 2nd quarter valued at about $99,000. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

NYSE APLE opened at $16.09 on Thursday. The firm has a 50-day moving average of $15.37 and a 200-day moving average of $14.77. 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 has a market cap of $3.86 billion, a PE ratio of 18.92 and a beta of 1.13. Apple Hospitality REIT, Inc. has a 52-week low of $13.60 and a 52-week high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The company had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same quarter in the prior year, the business posted $0.45 EPS. On average, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 5.97%. The ex-dividend date of this dividend is Friday, November 29th. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

Analyst Ratings Changes

A number of research analysts have recently commented on APLE shares. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company decreased their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.50.

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.