Proficio Capital Partners LLC Buys Shares of 10,883 Apple Hospitality REIT, Inc. (NYSE:APLE)

Proficio Capital Partners LLC purchased a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) during the fourth quarter, Holdings Channel.com reports. The fund purchased 10,883 shares of the real estate investment trust’s stock, valued at approximately $167,000.

Other hedge funds have also made changes to their positions in the company. Keybank National Association OH grew its holdings in shares of Apple Hospitality REIT by 3.1% in the fourth quarter. Keybank National Association OH now owns 40,163 shares of the real estate investment trust’s stock valued at $617,000 after purchasing an additional 1,218 shares in the last quarter. Hudson Edge Investment Partners Inc. grew its stake in shares of Apple Hospitality REIT by 4.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 27,079 shares of the real estate investment trust’s stock worth $416,000 after acquiring an additional 1,272 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Apple Hospitality REIT by 14.6% in the third quarter. TD Private Client Wealth LLC now owns 11,727 shares of the real estate investment trust’s stock worth $174,000 after acquiring an additional 1,490 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Apple Hospitality REIT by 80.9% during the fourth 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 during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Apple Hospitality REIT by 0.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 284,100 shares of the real estate investment trust’s stock valued at $4,219,000 after acquiring an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Down 1.5 %

Shares of NYSE APLE opened at $12.99 on Friday. The business has a 50-day moving average of $14.66 and a two-hundred day moving average of $15.07. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 15.28 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 1 year low of $12.93 and a 1 year high of $16.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The firm had revenue of $333.04 million during the quarter, compared to the consensus estimate of $330.11 million. On average, analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 7.39%. Apple Hospitality REIT’s dividend payout ratio is currently 109.09%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on APLE shares. BMO Capital Markets began coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 target price for the company. Wells Fargo & Company lowered their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Finally, Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their target price for the company from $16.00 to $17.00 in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.80.

About Apple Hospitality REIT

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.