Intech Investment Management LLC Takes Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Intech Investment Management LLC bought a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE) during the third quarter, HoldingsChannel reports. The fund bought 59,708 shares of the real estate investment trust’s stock, valued at approximately $887,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Masterton Capital Management LP acquired a new stake in Apple Hospitality REIT during the 2nd quarter valued at approximately $3,378,000. Dimensional Fund Advisors LP boosted its holdings in Apple Hospitality REIT by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock valued at $49,072,000 after purchasing an additional 154,159 shares during the last quarter. Sound Income Strategies LLC grew its position in Apple Hospitality REIT by 14.9% during the 3rd quarter. Sound Income Strategies LLC now owns 818,601 shares of the real estate investment trust’s stock worth $12,156,000 after purchasing an additional 105,993 shares during the period. Aurora Investment Counsel grew its position in Apple Hospitality REIT by 182.9% during the 2nd quarter. Aurora Investment Counsel now owns 75,802 shares of the real estate investment trust’s stock worth $1,102,000 after purchasing an additional 49,003 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. raised its stake in shares of Apple Hospitality REIT by 3,768.4% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,156 shares of the real estate investment trust’s stock valued at $5,062,000 after buying an additional 339,156 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

Shares of APLE stock opened at $16.20 on Friday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $17.90. The business’s 50 day moving average is $15.27 and its two-hundred day moving average is $14.72. The company has a market capitalization of $3.89 billion, a P/E ratio of 19.06 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last announced 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 business had revenue of $378.84 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.45 EPS. Analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 5.93%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Analysts Set New Price Targets

APLE has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on 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. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Apple Hospitality REIT has a consensus rating of “Hold” and an average price target of $16.50.

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.