Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 76.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 14,647 shares of the real estate investment trust’s stock after selling 48,770 shares during the period. Los Angeles Capital Management LLC’s holdings in Apple Hospitality REIT were worth $218,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of Apple Hospitality REIT during the 2nd quarter worth about $26,000. Quarry LP raised its holdings in shares of Apple Hospitality REIT by 127.5% during the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,290 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 780 shares in the last quarter. Covestor Ltd boosted its stake in shares of Apple Hospitality REIT by 115.6% in the first quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 2,313 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in shares of Apple Hospitality REIT by 4,406.5% during the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 5,420 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Price Performance

Apple Hospitality REIT stock opened at $15.53 on Tuesday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $15.04 and a 200 day moving average price of $14.66. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $17.90. The stock has a market cap of $3.72 billion, a P/E ratio of 18.26 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly 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). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The firm had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. During the same quarter in the prior year, the business earned $0.45 EPS. Sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date was Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

Analysts Set New Price Targets

A number of research firms recently weighed in on APLE. Oppenheimer restated an “outperform” rating and set a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. StockNews.com lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company dropped their price target on 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. 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 stock. Based on data from MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of “Hold” and an average target price of $16.50.

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.