Harbor Capital Advisors Inc. Cuts Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Harbor Capital Advisors Inc. cut its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 153,297 shares of the real estate investment trust’s stock after selling 948 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.06% of Apple Hospitality REIT worth $2,353,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of APLE. Quarry LP raised its holdings in shares of Apple Hospitality REIT by 127.5% in the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,290 shares during the period. GAMMA Investing LLC increased its position in Apple Hospitality REIT by 40.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 780 shares in the last quarter. Headlands Technologies LLC raised its holdings 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 buying an additional 5,420 shares during the period. Palouse Capital Management Inc. acquired a new position in Apple Hospitality REIT during the second quarter valued at approximately $99,000. Finally, Covestor Ltd grew its stake 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 worth $118,000 after buying an additional 1,831 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APLE has been the topic of a number of research reports. BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price on the stock. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Finally, StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Apple Hospitality REIT has a consensus rating of “Hold” and an average price target of $16.50.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $14.60 on Friday. The firm has a 50-day moving average of $15.65 and a two-hundred day moving average of $14.97. 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 $3.50 billion, a P/E ratio of 17.18 and a beta of 1.13. Apple Hospitality REIT, Inc. has a 1-year low of $13.60 and a 1-year high of $16.99.

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

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.08 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 6.58%. 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.