Fox Run Management L.L.C. Buys New Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Fox Run Management L.L.C. bought a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE) during the fourth quarter, HoldingsChannel.com reports. The fund bought 58,986 shares of the real estate investment trust’s stock, valued at approximately $905,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Apple Hospitality REIT by 80.9% in the fourth quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 2,193 shares during the period. KBC Group NV increased its stake in Apple Hospitality REIT by 37.8% in the fourth quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 2,541 shares during the period. Entropy Technologies LP bought a new stake in Apple Hospitality REIT in the fourth quarter valued at about $159,000. Proficio Capital Partners LLC bought a new stake in Apple Hospitality REIT in the fourth quarter valued at about $167,000. Finally, TD Private Client Wealth LLC increased its stake in 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 valued at $174,000 after acquiring an additional 1,490 shares during the period. Institutional investors own 89.66% of the company’s stock.

Wall Street Analyst Weigh In

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

Apple Hospitality REIT Price Performance

APLE opened at $13.31 on Friday. The company’s 50 day simple moving average is $14.79 and its 200-day simple moving average is $15.10. Apple Hospitality REIT, Inc. has a one year low of $13.01 and a one year high of $16.60. The stock has a market capitalization of $3.19 billion, a P/E ratio of 15.65 and a beta of 1.12. 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 data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $333.04 million for the quarter, compared to analyst estimates of $330.11 million. Sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.08 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 7.22%. Apple Hospitality REIT’s dividend payout ratio is currently 109.09%.

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.